Is is possible to put mortgaged properties in trust for a 4yo child?

aijan77

Hi

I know the question might seem a bit strange, but I want my name to be taken off the deeds somehow. I dont want to sell. I own a flat and a house. I have a 4 years old daughter. Is there any way I can transfer the properties to her name and take my name off the deeds? I wil of course still make mortgage payments. I hope someone can advise me on that, thank you all very much...

Jane

VIGILANT22

What exactly is the problem or what are you trying to achieve?

luckyfool

If it is to try to shelter assets from creditors then its unlikely to be effective. Property can be held in trust, but the fact that the properties are mortgaged is likely to be your main issue.

withnell

It's got a mortgage, so the lender would never consent to it unless the mortgage was fully discharged first

Conrad

Of course you cannot remove your name from the deeds where a mortgage is in place - who the heck would be responsible for paying the mortgage - a ghost!