Charlie
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Joint Tenants to Tenants in Common
Years ago my wife and I bought a house and we also put my daughter name on it as Joint tenants. Years later my daughter bought her own house as her main home. We have been told by a solicitor that we can severe the Joint Tenants agreement on the title deeds and replace it with Tenants in Common with the ownership set at 49% in my wife, 49% to me and 2% to my daughter. By making the above changes will there be any capital gains tax due please? If there is no capital gains tax for this change at moment, when the property is sold will any capital gain arise be taxed according to the tenants in common split? Thanks.