My mum brought a house for around 400k outright but was short 70k so my sister got a loan for the amount and then went onto the house title..we all live together but my sister is now moving out and wants me to take over the loan amd she want to get off the title..
Firstly: what is the cost to just remove her and leave my mum on the title?-is there stamp duty involved?
2nd: if i get on the title what will the costs be?? Will it be calculated only on the 20% my sister put in if i was to do tenant in common or the full market value??..i also work fulltime and have an investment property amd never applied for FHOG and i have a pension card and so does my mother...
Will us both being on a pension card wipe out the stamp duty ?? If i am only being added to the title..
We will have to refinance the 70k borrowed so the loan is in both our names or just mine