Hi
Just wondering about releasing the equity in our house, by selling it to ourselves and rent it out as an investment property after that.The property is in Qld and is 1 year old.The equity would be used to buy another house as our principle place of residence.
Cheers
You can't contract with yourself!
Who owns it now and who wants to buy? If the same then impossible. If one spouse selling to another then ok, if a trustee selling to himself then ok – subject to terms of trust.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks for the reply
We jointly own the property Husband/Wife.If we rent it out and relocate we will have to rent ourselves in the new location.It was just a thought.
You can still access the equity if that is what you are trying to do?
bb, what are you trying to do? Or what was your intention in wanting to sell it to yourself?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Bundyboy
What are you trying to achieve?
Like Nathan said above – accessing equity may still be a possibility.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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