Property Problems

If your wife will sign something like this, then more power to you dude.

Would it not be much more sensible for her to keep the FMH, you to keep the rentals, and pay her a portion of the rental income as SM? She has no assets so her benefits are not affected, and she has the "security" of SM which is much more reliable than rental income, or some Mesher type arrangement which might not even come into effect for 15, 20 or 50 years.

Hi Cookie,

I have already agreed to sign over the MH to my wife. So in some respects that''s one problem solved. I also understand that although I will sign the title over I will need to stay on the mortgage.

I could keep the rentals and pay SM out of the rental income, but my wife has voiced a view that if that were the case I could be doing ok when the property market recovers.

Could this be solved by a combination of the 2. For example pay SM until the properties are liquidated, and then a cash sum to stop the SM payments?

I cant believe how difficult it is to reach an agreement even when everything is amicable!!!

Bob..

bobbeckit wrote:

my wife has voiced a view that if that were the case I could be doing ok when the property market recovers.

Well, she is doing OK too since she will own the FMH.

Very good point....

Sometimes you cant see the wood for the trees!!

No expert but shouldnt you also be considering Capital Gains Tax as well - whether you sell or transfer property other than your main dwelling that will come into it I think. Sure somone on here can help clarify that.

I dont think capital gains are going to come into this much as the properties are pretty much at the same value now as they were when they were purchased.

Bob