What counts as the price
- Cash paid to the other owner
- The share of any mortgage you take on: adding yourself to a £200,000 mortgage as a joint owner of half means £100,000 is the price
- Other debts released
Exempt transfers
- Gifts with no money paid and no mortgage taken over
- Transfers on divorce, dissolution or separation under a court order or agreement
- Inheritance under a will or intestacy
Watch out
Taking on a share of a home can count as owning a home for the higher rates later. A transfer to a company you control is taxed on market value. Check the details with your conveyancer.