You could sell your land for use as garden land or as a building plot. If sold with the benefit of planning permission the land could be worth more, of course. A surveyor or architect could advise and if appropriate draw up plans and apply for planning permission.
Answer: Selling part of a property can be more complex than selling the whole thing. You could sell your land for use as garden land or as a building plot. If sold with the benefit of planning permission the land could be worth more, of course.
Can I sell part of my garden tax free?
No, you can sell part of your property even if you’re still paying off your mortgage. However, you will need to speak to your lender about it.
Can I sell part of my garden to my Neighbour?
‘You will need to instruct a conveyancer to deal with the legal aspects of the sale. In effect your neighbour is selling off part of his land to you. That will impact his title and result in your title having additional land added to it. That will require formal paperwork, in the form of a Transfer of Part (TP1).
Can I buy my Neighbours garage?
Q My daughter-in-law has been approached by her neighbour who would like to purchase her garage which is in a small compound. A Unfortunately, if you have a mortgage on a property, you can’t sell part of it – whether that’s a garage or outhouse or part of the garden – without the consent of your lender.
Can a garden be sold in a permitted area?
If the sale of your garden is within the ‘permitted area’ of your main residence it can potentially qualify for PRR. This would mean that any profit on selling the land would potentially be tax free. The ‘permitted area’ is basically a garden or grounds of up to 0.5 hectare (including the footprint of the house).
What are tax implications on selling part of Garden?
(1) If I let out the existing house for 2 years, then sell the part of garden with planning permission. Then wait for another 2 years, then sell the main house. What are the tax implications?
How to set a price when selling part of my Garden?
You should also separately consider how much the loss of this parcel of land would reduce the value of your property. In our commercial view, you should not sell the land for less than this figure When selling your garden to a neighbour, you may be creating something called marriage value.
Can You claim PPR if you sell part of your garden?
Your ‘home’ includes your garden and grounds so long as the land is used and enjoyed as part of your main residence whilst you live there. It is possible to claim PPR if you sell just part of the property, for example part of the garden. The relief automatically applies to properties of up to 1.2 acres (0.5 hectares) in total.
