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Posted Fri, 24 Nov 2023 11:15:32 GMT by
My now husband had a bad break up and messy divorce from his ex, he kept a 5% interest in the formal matrimonial home he had to stay on the mortgage and couldn’t be removed from the deeds. The consent order details tenants in common 95% share is hers and 5% his. Fast forward a few years down the line and we’re looking at trying to get the remainder of the mortgage paid off and the 5% remaining equity transferred to her, the intention was always for her to have 100%. We have now discovered that the deeds are still held in joint tenants it appears they didn’t change it at the time, but presumably the court order is what is binding despite what is held with land registry? Just worried this is going to affect transfer of his 5% share to her, also if he would end up having to pay CGT? He wouldn’t with 5% transfer as it’s small and his can claim private residence relief for the time he lived there.
Posted Tue, 28 Nov 2023 10:07:39 GMT by HMRC Admin 8 Response
Hi,
Please note that Capital Gains Tax liability on the sale of a jointly owned residential property is based on each individual's 'beneficial ownership' share of the property at the time the property is sold:
CG22020 
If and when the property is sold, your husband may wish to use HMRC's Private Residence Relief  calculator to check what relief he is due:                Tax when you sell your home
Thank you.

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