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Transfer of Freehold - 1st time buyer implications??


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Hello

Own freehold of a property which has some underlying garages.  Want to transfer the freehold title of one garage to someone.

There is an apx 90y lease on this garage in someone else's name - and they use the garage. So the desired transfer is just the freehold title not for the use of the garage.  The transfer will be a nominal sum (not agreed yet but just a few thousand) to someone who has never owned property before.   

The question I have is - will the transfer of the freehold into this person's name impact their future ability to get 1st time buyer stamp duty relief/ discount when they want to buy a property in which to live?

Thanks for some input

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Hi

Are you really asking this for yourself or are you actually asking this on behalf of someone else???

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I cannot give any advice by PM - If you provide a link to your Thread then I will be happy to offer advice there.

I advise to the best of my ability, but I am not a qualified professional, benefits lawyer nor Welfare Rights Adviser.

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Am asking from the perspective of being the freeholder wanting to transfer title to a relation who is a 1st time buyer. Don't want to jeopardize their relief discount.  It's a strategic move - rather than a sale to a stranger - in order to provide an extra layer of protection for the bigger freehold title.

Rang Hmrc twice. They struggled with the question!   Have just written letter to see if get a definitive answer in writing from them!   

 

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It's for both.  The proposed transaction is to a young relation.  The freehold is not mine per se, it's in a trust and I'm one trustee.  I'm trying to create  an extra layer of protection for the freehold for the beneficiaries.  And one way I can see to do that is to do a transfer of this one garage and create a new freeholder - but one which is still kinda in the family.  I'm looking out for all sides.   And yes, this is still tied to all my other issues - unbelievably 

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The legal workshop has been shut for the summer and there is a long wait until the next available appointment.   Ive asked Hmrc SDLT team on phone and twice they couldn't advise.  So clearly it's a tricky grey area.  I do hope they reply soon. But I suspect they also will be slow with a reply.  I need to action this pretty promptly.  Which is why I've reached out on here

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Why don't you actually do your research?

WWW.GOV.UK

Registering land or property in England - first time registration, transfer of ownership, changing your details on the register, where to register in...

 

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I cannot give any advice by PM - If you provide a link to your Thread then I will be happy to offer advice there.

I advise to the best of my ability, but I am not a qualified professional, benefits lawyer nor Welfare Rights Adviser.

Please Donate button to the Consumer Action Group

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Thanks Stu 

The process of registration I have researched. The bit I can't seem to find conclusive answer to is whether hmrc would consider this specific transfer a "dwelling" that would mean the transferee would lose their 1st time buyer relief.   This property isn't a dwelling - it can't be lived in, can't park a car in it - as it is just the freehold reversion.  The long lease belongs to someone else and they have the rights of usage.   So would it be 'fair' of Hmrc to consider this a 1st time residential purchase?  Even hmrc struggled to answer.  

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