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signing over a house

del77 · 2018-03-22 09:57:17

Hi all, I am looking for advice on the best way to proceed with this. My wife half owns a house with her sister and we are looking to buy her out. The property hasn't been lived in for years and is worth 50-60k. What I would like to know is are we better off asking her to sign over her half to my wife as a gift and give…

22-03-2018 9:57am

#1

del77

Registered Users, Registered Users 2 Posts: 10 ✭

Join Date: October 2014

Posts: 7

Hi all,

I am looking for advice on the best way to proceed with this.
My wife half owns a house with her sister and we are looking to buy her out. The property hasn't been lived in for years and is worth 50-60k. What I would like to know is are we better off asking her to sign over her half to my wife as a gift and give her cash separate or for us to just but her out and giver her 25k. I know there is different tax issues with both so I am just wondering which way would be the most cost effective ie. Less tax etc

Thanks
D

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