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Hi I have just amicably split divorce from my wife. . Consent order should be agreed this week.
She received a buy to let flat as part of settlement. (The flat was previously let out and was in my name)(Transferred from my sole name to hers) she now has residential mortgage on it.
She does not want the flat anymore and is selling it.
Would it be a conflict of interest if I was to purchased
the flat from her ?
It's my understanding if we were to sell the flat whilst we were married there would be capital gains to pay but because she has taken the flat as part of settlement then it would be classed as her main place of residence so CGT would no longer be applicable.
Thank you for advice
Simon
She received a buy to let flat as part of settlement. (The flat was previously let out and was in my name)(Transferred from my sole name to hers) she now has residential mortgage on it.
She does not want the flat anymore and is selling it.
Would it be a conflict of interest if I was to purchased
the flat from her ?
It's my understanding if we were to sell the flat whilst we were married there would be capital gains to pay but because she has taken the flat as part of settlement then it would be classed as her main place of residence so CGT would no longer be applicable.
Thank you for advice
Simon
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