If 2 people not married own a property as joint tenants (not tenants in common) could someone confirm that
1. Income can be split in whatever % they want so long as it reflects what they actually receive in fact.
2. On the sale of the property sale proceeds and capital gains have to be calculated on a 50:50 basis?
Thank you
Replies (1)
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joint property tax - unmarried
Yes, to 1. as usefully discussed in a previous thread.
Yes, to 2. as they have equal share of beneficial ownership over the whole.