Selling part of land (stables) to neighbor

[kbates]

Hello,

I am hoping for some advise. I understand this is an excellent place for information and for those that are willing to provide it I would be very appreciative of.

Me and my husband have for some time considered selling off part of our property to our neighbor. We have known the neighbor for many years, she became interested in the purchase after her husband past away and she now wants a project to focus on.

To paint the picture, we own a detached house with quite a large garden. At the end of the garden is a now deteriorating block of stables that I have used for storage and as an office from time to time.

I am wondering what considerations I should have about selling the stables to my neighbor.

What would be the process of selling them to her? Are there any tax considerations that we should know about etc.? Any advice generally would be helpful.

We have informally agreed a fee of £130k if this helps at all. Also, the power lines for our house are accessed via the stables - should I worry about selling the land that contains these - should I make a provision that states they should be looked after / we should have access to them at relevant times.

We really are very new to this and as such are open to any advice / experience anybody has had with this type of sale.

Thanks you

Katy.

[jtrader]

Selling land even just for grazing use has tax implications.

[jtrader]

Also when selling land power cables and similar obstacles should always be considered- check with the council first.