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Hello, I am not sure if this is in the right board, please feel free to move it if not.
My partner is divorced although the financials are still being finalised.
My partner owns her own house (the ex marital home) in her own right, she is the only party on both the mortgage and deeds.
Her and her ex bought a bungalow as an investment and rented it out to his mother. They are both on the mortgage and both on the deeds.
When the marriage broke down he moved in to the bungalow and this is his own home now although my partner still remains on both the mortgage and deeds.
It is likely that when the financials are finalised the bungalow will have to be sold in order to release some of the equity. Although the bungalow is the main residence of the ex would it still be seen as a second home for my partner and thus attracting CGT?
Many thanks for any input you can give!
Reptile
My partner is divorced although the financials are still being finalised.
My partner owns her own house (the ex marital home) in her own right, she is the only party on both the mortgage and deeds.
Her and her ex bought a bungalow as an investment and rented it out to his mother. They are both on the mortgage and both on the deeds.
When the marriage broke down he moved in to the bungalow and this is his own home now although my partner still remains on both the mortgage and deeds.
It is likely that when the financials are finalised the bungalow will have to be sold in order to release some of the equity. Although the bungalow is the main residence of the ex would it still be seen as a second home for my partner and thus attracting CGT?
Many thanks for any input you can give!
Reptile
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