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How do I add a name to the title deeds of my property?

dervish
dervish Posts: 926 Forumite
500 Posts
edited 22 May 2009 at 10:25AM in Mortgages & endowments
Trying to care for one's son is hard.

Comments

  • Bossyboots
    Bossyboots Posts: 6,758 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Wait until the mortgage is paid off. Otherwise, you have to inform them of what you propose to do and get their agreement. This paperwork alone is likely to take longer than the time left to paying your mortgage off.

    After that, you can download a form TR1 from the Land Registry site, fill it in and submit it to the Land Registry. However, you do need to consider issues such as the fact that you are "gifting" half your property to your partner. This has inheritance tax implications should anything happen to you within seven years. Also, are you going to hold the property as joint tenants or tenants in common? If you are not sure about the answer to that, then I would strongly suggest you have the paperwork done by a solicitor who can explain the difference to you. Are you going to have an agreement that deals with who has what share of the property if you split? After all, you have presumably put in the lion's share up until now.
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