House Ownership Rights

MrsPitcher2b

My OH does not know it will only be in my name, i havent told him yet.

It will not be for nothing - i will be giving my dad my deposit i have saved for a house, which i saved by myself before i met OH - so will be my money.

Bryanb, we are married already - its an old username and i do not know how to change it. Have been married a year.

I understand my dad doesnt want my OH to get my money, but he will be entitled to it anyway?

Of course i dont expect my dad to buy me another house for OH, i didnt expect this one he just offered. What am i supposed to say, no thanks dad i will get a mortgage for £1200 a month and be forever in debt. I said i wanted to buy it off of him (as we are already renting it from him) and he said no we can have it as it would be easier for him if we did.

I just wanted to no the legal side, whether my OH would have any claim to the house.

sharkie

MrsPitcher2b wrote: »

It will not be for nothing - i will be giving my dad my deposit i have saved for a house, which i saved by myself before i met OH - so will be my money.

Bryanb, we are married already - its an old username and i do not know how to change it. Have been married a year.

I understand my dad doesnt want my OH to get my money, but he will be entitled to it anyway?

Of course i dont expect my dad to buy me another house for OH, i didnt expect this one he just offered. What am i supposed to say, no thanks dad i will get a mortgage for £1200 a month and be forever in debt. I said i wanted to buy it off of him (as we are already renting it from him) and he said no we can have it as it would be easier for him if we did.

I just wanted to no the legal side, whether my OH would have any claim to the house.

Depends on your pre-nup I would think, but very likely Yes, he most likely will have claim to the house, and may even be able to take out a loan out on the house too, putting the family in debt.

Trust Fund, Trust Fund, Trust Fund!!!!! If he is of current equal standing (if he was you would not need the house) you would be even, so an even split would be fair, even if it is your dad's money.

Do hope all goes well for you, but in the future you could also end up sharing half the house etc with his new girlfriend too.

Then there is redundancy, illness, money and children, that can all wreck a smooth relationship. You and he will not be he exact same people you are today, but hopefully to drift together along the same way, but also may not.

If all goes well, a Trust fund may make no difference to your lives, and if it does not, may be of great benefit to you.

Protect your ASSets, give you, and possible children a good, secure start - Trust Fund, Trust Fund, Trust Fund

MrsPitcher2b

Trust fund rather than the house? And OH will have no legal claim to this?

I already have a NS&I that i know my dad has for us, i cant find any info on trust funds other than Child trust funds for babies?

Also, with the house being in my dads name, wud capital gains tax not come into it?

SusieT

You set up a trust fund and the house is "owned" by it, that way if the worst did happen and you split up the house would not form part of the divorse proceedings and your husband would have no rights to it.
It would still mean you could live there, your father would be happy that his hard work had given you a house that could not be taken from you in the case of a divorce, and you would be safe if 10 or 20 years down the line you did split up.

I am with the people advising you to put it into a trust fund

moromir

I think you should think very carefully before you 'just change it when its signed over' into your OH's name.

My father would be devestated if he gave me something so valuable with, what I consider to be, a sensible stipulation that it must remain in my name, and then found out I had expressly gone behind his back and done something I knew he didn't want me to do.

Is it worth the problems it will cause?

twirlypinky

i'd think very carefully about this if i were you. Your dad doesn't want this house in your husbands name for a reason, i think you should honour it. There are two possible scenarios here, one you split up, and two you don't.

If you leave the house in your dad's name and you split up then you won't have to give him half the house. If you put it in your name or joint with your husband then you'll lose half the house.

If you do either of those things and you don't split up then nothing at all changes, you've both got somewhere cheap to live.

I really don't see the need to take any risks here - leave it in your dads name and get him to trust fund it. If your husband gets narky about that then i'd wonder what his motives are to be honest with you. If he's never going to leave you then it doesn't matter that his names aren't on the deeds does it?

c

MrsPitcher2b

My Dad doesnt want it in his name because of the tax if/when he dies

MrsPitcher2b

sharkie wrote: »

Depends on your pre-nup I would think,

I was told Pre Nups were not legal in this country so pointless?

MrsPitcher2b

moromir wrote: »

I think you should think very carefully before you 'just change it when its signed over' into your OH's name.

My father would be devestated if he gave me something so valuable with, what I consider to be, a sensible stipulation that it must remain in my name, and then found out I had expressly gone behind his back and done something I knew he didn't want me to do.

Is it worth the problems it will cause?

No its not worth the problems, but according to the rest of this thread, he would have a claim over it whether its in his name or not? So its gonna be a problem if we split up anyway!

RAS

If it is joint tenancy, the assumption is 50 percent unless you do tenants in common and stipulate a different percentage. This could be varied if you if you have children.

If it is in your name, there is more scope for argument.

Also if a marriage ends after less than 2 years, the courts try to return people to the position they were in at marriage.
If you owned the house hubbie would not have a claim at that stage.
If you put him on the deeds, he would get half or whatever you agreed when you signed it over, from that time onwards.