Proceeds from the house


#1

In the proposed property settlement with my estranged wife I am agreeing to let her keep the entire proceeds from the sale of the house. The house is in both our names, if she does not use the money to purchase other property, will I be have to pay capital gains tax on the profit at some point?


#2

The agreement will need to state that the capital gains (if any) generated from the sale will be allocated in the same manner as the proceeds, ie 100% to your wife.