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Old 5th February 2012, 14:09   #1 (permalink)
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Removal of name form Tapu

Hi All

Could someone tell me how much it would cost to have a name removed from a Tapu please and what the procedure would be

Thanks

Tracy
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Old 5th February 2012, 14:55   #2 (permalink)
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Re: Removal of name form Tapu

I would guess that you can't remove a name from a tapu without the person being present and signing it over, which would be deemed as a sale, so you would have to pay tax on the 'sale' of their percentage,based on the value written on the tapu.
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Old 5th February 2012, 15:01   #3 (permalink)
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Re: Removal of name form Tapu

Quote:
Originally Posted by easylife View Post
I would guess that you can't remove a name from a tapu without the person being present and signing it over, which would be deemed as a sale, so you would have to pay tax on the 'sale' of their percentage,based on the value written on the tapu.
Yes that's what I also heard.
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Old 5th February 2012, 16:01   #4 (permalink)
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Re: Removal of name form Tapu

it takes two to put the names on and it takes two to take them off...

unless of course one is deceased?
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Old 5th February 2012, 16:15   #5 (permalink)
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Re: Removal of name form Tapu

Thank you for the information

The other person would be aware, but it seems to much hassle

Thanks again
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Old 5th February 2012, 16:23   #6 (permalink)
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Re: Removal of name form Tapu

Quote:
Originally Posted by meyavilla View Post
Thank you for the information

The other person would be aware, but it seems to much hassle

Thanks again
As you asked the question, you may want to consider any implications that may appear at a later date by not removing the name, although it would not be a free or probably very cheap option.
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