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Legal Ease
Legal Ease, Lawyer
Category: Canada Law
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Experience:  Lawyer
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Can my husband buy our house from me? Title and mortgage are

Customer Question

Can my husband buy our house from me? Title and mortgage are in my name only.
Submitted: 5 months ago.
Category: Canada Law
Expert:  Legal Ease replied 5 months ago.

Would the bank agree to the transfer of the mortgage?

Customer: replied 5 months ago.
We would want him to apply for a fresh mortgage so that I can be paid the purchase price, pay off existing mortgage and some additional unsecured debt.
Expert:  Legal Ease replied 5 months ago.

There is no reason why you cannot do this. If there is no consent needed from the bank I am not sure what the concern is.

Why do you think you might not be able to do this?

Customer: replied 5 months ago.
It was an idea that popped into my head to help payoff my unsecured debt and it felt seedy, so I thought there may be legal ramifications. Would this be applicable in a capital gains situation?
Expert:  Legal Ease replied 5 months ago.

I don't see why it is seedy.

There is no capital gains for you to pay if this is your principal residence.

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