Asked by Anonymous
I bought a $1M private property with 2 friends, A and B (tenants in common) 5 years ago. If I want to remove my name from the property, what are the fees involved? Assuming A has one property and B has two properties besides this one. Does it mean A has to pay 7% ABSD on 1/2 of my portion of the property and B has to pay 10% on the portion of my property? In addition there is 3% stamp duty on the $1M property plus legal fees? Thanks.
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