Question: Hi, I live in Toronto and would like to refinance a rental property. I’d like to add my wife to title so she can apply with me for the refinance. Can that be done; and would she need to pay land transfer tax?
Answer: There is no problem with you and your wife both applying for the refinance. Your lawyer can add your spouse to title pretty easily when the refinance closes. There should generally be no land transfer tax implications as long as the transfer complies with Ontario’s spousal exemption.
That said, it’s always wise to consult a lawyer and tax advisor for advice specific to your situation.
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Last modified: April 28, 2014
what about adding non spouse to the title what is the implication for land transfer taxes?
you pay tax on the % ownership the other party gets.
Can you add a spouse to a deed of a house with a lawyer or do they have to also be added to a mortgage? We want to do a will