Ask a Lawyer: Real Estate

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Tax implication on paying off mortgage

Braden Latam (Calgary)

I have a few questions about paying off a mortgage in full and how to go about doing so. My girlfriend and I both live in the UK (London) and I own a condo in downtown Calgary,AB The hope is for my gf to go in on my condo with me and pay off the remaining balance so we own outright. What tax implications does she or I face in this situation? Would it be better for her to gift me the money and I pay it off completely and then put her name on the deed?

0 54 days ago - edited 54 days ago

Anonymous Lawyer (Edmonton)
   Verified Lawyer

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0 52 days ago

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