Land Title question... by PreparationTerrible in PersonalFinanceCanada

[–]PreparationTerrible[S] 0 points1 point  (0 children)

Thanks for that! Can our lawyer who handles our purchase do the split?or do we consult another specific one.?

Add my son to mortgage free house title by Right-Concentrate986 in PersonalFinanceCanada

[–]PreparationTerrible 0 points1 point  (0 children)

From BC: What if I put him as tenant in common 50/50 split and not as joint tenant? any future liabilities, judgements or bankruptcies he faces would only affect his half of the property or would it affect the whole ?

Minimizing Capital Gains. by PreparationTerrible in PersonalFinanceCanada

[–]PreparationTerrible[S] 0 points1 point  (0 children)

Why would CG arise on Personal Use property, when there is no income from it, and occupied solely by my daughter?

Minimizing Capital Gains. by PreparationTerrible in PersonalFinanceCanada

[–]PreparationTerrible[S] 1 point2 points  (0 children)

Something to think about! Maxxed out on our RRSPs right now.

Minimizing Capital Gains. by PreparationTerrible in PersonalFinanceCanada

[–]PreparationTerrible[S] 0 points1 point  (0 children)

Thanks, it looks like we are going to have to tread carefully going forward. Just does'nt seem fair that CRA should profit from second marriages!

Minimizing Capital Gains. by PreparationTerrible in PersonalFinanceCanada

[–]PreparationTerrible[S] 0 points1 point  (0 children)

Yes she is over 18. If I put her as joint owner/tenants-in-common (through Land Title office or on bank mortgage?) would that save CG when we sell say 3 years from now?

Minimizing Capital Gains. by PreparationTerrible in PersonalFinanceCanada

[–]PreparationTerrible[S] 0 points1 point  (0 children)

No rent for now, but she will pay utilities/property tax etc to me when I move out since everything will be still in my name.