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My wife, son and I bought a property as tenants in common about 4 years ago with different shares. We are building two units, both of which will be each of our PPOR. However the title of the whole site is still in our three names and we wish to subdivide and partition the total area between us giving each of us title to our own plot and house. From what I have read I should have set this up in a blank trust as I am now exposed to a CGT event on doing the partition.
Does anyone have any advice on how to avoid this via some special clause or something ?
Thanks in advance,
Peter
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