- This topic has 1 reply, 1 voice, and was last updated 15th April 2018 at 10:41 am by
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Can anyone clarify the SDLT liability regarding title splitting properties as part of a remortgage process?
ie One property – 2 houses on site – mortgage on whole (say 500k) – transferred A to A and B for no consideration then Transfers of Part for each individual property done from A and B back to A – both properties mortgaged for 250k to pay off the existing mortgage.
Would there be any difference if it was a building where A transfers to Company then leases are done of 2 flats?
James, if you can achieve this by transferring the title to A and B as bare trustees for A and back again to A as beneficial owner then no SDLT will arise.
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