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Thread: Joint Tenancy to Tenancy in Commons of UNEQUAL shares

  1. #1
    Join Date
    Jan 2009
    Posts
    70

    Default Joint Tenancy to Tenancy in Commons of UNEQUAL shares

    Hi gurus

    Can someone enlighten me on the Stamp duty payable and any SSD payable in the scenario of

    1. property bought 2013 (4 years SSD applies)
    2. Joint tenancy

    I wish to convert to a 90% 10% unequal share ratio from joint tenancy to tenancy in commons

    do i need to pay 3% of 40% of the market price for stamp duty

    or do i need also to pay SSD of 40% of market price for SSD?


    Thank you!

  2. #2
    Join Date
    May 2012
    Posts
    2,429

    Default

    IIRC, if you are converting from a joint tenancy to a tenancy in common where both parties have 50- 50% or if a tenancy in common of 50-50% to a joint tenancy, then it will not be considered a sale (ie no BSD, no ABSD, no SSD).

    As for conversion in any other form, it will be considered a sale.

  3. #3
    Join Date
    Jan 2009
    Posts
    2,141

    Default

    Sorry to hijack your thread, joint tenancy has to be equal shares between both parties I.e. 50%-50% or can it have different percentage eg 20%-80%?

  4. #4
    Join Date
    Nov 2008
    Posts
    3,812

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