How do I change from sole ownership to joint ownership

roms

Hi,

When I bought my flat I was not married. As I was not married I was the sole owner of the property and mortgage. I have subsiquently got married. I would like my wife to become a joint owner of the property. Does anyone know how I can do this?

Also if something happens to me then will the house automatically become my wife's if we are not joint owners? The property is less than £200k.

I have been reading threads about wills and this has confused me a bit. If we are joint owners then does this have an implication in regards to inheritance tax?

Thanks in advance for your help.

DUTR

roms wrote: »

Hi,

When I bought my flat I was not married. As I was not married I was the sole owner of the property and mortgage. I have subsiquently got married. I would like my wife to become a joint owner of the property. Does anyone know how I can do this?

Also if something happens to me then will the house automatically become my wife's if we are not joint owners? The property is less than £200k.

I have been reading threads about wills and this has confused me a bit. If we are joint owners then does this have an implication in regards to inheritance tax?

Thanks in advance for your help.

1) See a solicitor
2) Get a will drawn up, (ps there is no law to say you may perish before your wife does)
3) See 1

roms

DUTR wrote: »

1) See a solicitor
2) Get a will drawn up, (ps there is no law to say you may perish before your wife does)
3) See 1

Thanks for your reply DUTR!

I am a bit weary about solicitors since my first and only 2 experiences with them have not gone so well. Would you know roughly how much they should charge to assist me in adding my wife as the owner?

Is using a solicitor the only way of adding my wife as the owner or can I do the paperwork myself?

I will be using will aid to get my will sorted:rotfl:

david29dpo

Is there a loan on the flat? If so better to just make a will.