Posts Tagged ‘gifts’
November 27th, 2010 | 
Author: Childs Name
Australia. I am paying off a mortgage, am I able to put my house into my childs name?
My child is a miner, but I want to rent out the house and move elsewhere without selling it. So I am wanting to put it into my childs name as an investment for her, and then move interstate and rent another house, is this possible?
I know that you cannot put the property in the name of a minor, unless it is own outright. The bank holds the deed in the name of the person paying the mortgage, and your daughter is hardly likely to accepted for a mortgage.
The only thing I can think of is putting it in trust. I am not sure how you would go about this, but there could be some capital gains issues, as it would be considered as a gift. Plus stamp duty, because ownership would be passing from one person or entity to another.
But really speak to someone like an accountant or a property lawyer as there may be ways around forking out money to the government.
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In a Child's Name Movie TV DVD Valerie Bertinelli Michael Ontkean
Posted in Wall Decor | 
Tags: babies, Baby, babyshower, child's name in book, child's name necklace, child's name puzzle, child's name tattoos, child's names, children, gifts | 
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