Long story short - I want to go into property development with some family members and I understand that if you renovate and sell a house that isn't your main residence you'll have to pay Capital Gains Tax and such.
The idea is to put the property to be developed in my name because I don't currently own any property. This would be bough outright for cash - no mortgage, and as it would be my main residence we would avoid having to pay CGT when it gets sold.
I also want to get a house of my own to live in for which a mortgage will be required. Can I get the mortgage in my name and be responsible for the repayments but have the house in my partners name, thus allowing me to have the other properties to be developed in my name and as my primary residence?
Is this possible and is it legal? Please no answers about being able to trust my partner etc. That's a separate topic. I'm only interested in the legal aspect of the property ownership.
Read more: Can you put a house in someone else's name whilst remaining responsible for the mortgage payments?
