Hi there,
I own one of the 2 units in a cross lease property. The owner of the other unit today approached me to check if I was interested in buying his place as an investment property.
If I decide to go ahead with the purchase, and if I decide to remove cross lease on the house making it into 2 properties with one shared driveway (the ownership of which will lie with my unit), then will the legal and surveyor expenses in this be tax deductible?
Thanks,
NJ
I own one of the 2 units in a cross lease property. The owner of the other unit today approached me to check if I was interested in buying his place as an investment property.
If I decide to go ahead with the purchase, and if I decide to remove cross lease on the house making it into 2 properties with one shared driveway (the ownership of which will lie with my unit), then will the legal and surveyor expenses in this be tax deductible?
Thanks,
NJ
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