Hi there,
wondering if anyone can tell me whether a joint ownership arrangement can be changed to tenants in common or to signle owner.
reason i ask is that wife and I are considering renting out our current home at some stage in the future and as my income is far higher than my wife, it would make sense for the property to be in my name. Only thing is that the house was purchased in both names and loan also was taken out in both names.
cheers
DylanoYes it can be but may incur stamp duty in the particular State.
You maybe better off considering transferring ownership to your Trust if you ae looking at renting the property out and then paying the duty and maximising your new borrowings.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.Richard Taylor | Australia's leading private lender
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