additonal owner after section 21 - rental

[philv]

So,

i'm transferring most of the equity in a residnetial rental property i have to my daughter

However, i've served a section 21 notice and about to apply for a posession order.

If we complete now, a section 3 would have to be sent to the tenants to notiy them of the change of ownership.

How is this going to affect the section 21 and posession order application?

Thanks

[mcflurry]

Would it be "better" to wait until the tenants have left, as to keep it all separate, in case there are leaving issues etc?

[MustangGT]

philv said:

So,

i'm transferring most of the equity in a residnetial rental property i have to my daughter

However, i've served a section 21 notice and about to apply for a posession order.

If we complete now, a section 3 would have to be sent to the tenants to notiy them of the change of ownership.

How is this going to affect the section 21 and posession order application?

Thanks

Are there any capital gains tax or stamp duty implications in doing this?

[philv]

Actually i just found out tenants are moving out.

Capital gains tax payable on that part i am transferring (pre budget!).

No stamp duty as no mortgage and it's a gift.

[MustangGT]

philv said:

Actually i just found out tenants are moving out.

Capital gains tax payable on that part i am transferring (pre budget!).

No stamp duty as no mortgage and it's a gift.

That is good news for you.