How do i transfer half my house to my new husband?

SuzieSue

UrWntr wrote: »

I don't think you understand what a marriage is. If you have underlying fears about your husband's behaviour, perhaps you shouldn't have got married.

I don't have any underlying fears about my husband's behaviour at all, infact, we are thinking of buying a buy to let property together. I am in a slightly different situation from the OP in that I own my property mortage-free, but my husband also owns a buy to let in his own right with a small mortgage. However, it doesn't matter whether he owns his own property or not, I wouldn't give him half of my property because the roof over my head is so important to me that I would never put it at risk unnecessarily. Also, I wouldn't expect him to give me a share in his property if the situation were reversed especially as his ex-wife had an affair and left him.

Tucker

Stuff that.... charge him rent.

foreign_correspondent

fatpuppy wrote: »

2. I take my wedding vows very seriously and I am not one of these people of today that seems to consider getting married for a while rather than for the rest of their lives.

That's great, and I agree fully - but I was with someone who I thought I had made a commitment to - I supported him for years, through thick and thin, and I believe that loyalty and commitment is vital - I never suspected he didn't feel the same sense of loyalty and fairness, till he uttered the immortal words 'I''m leaving, I want you to sell the house and give me half!'

Strapped

fatpuppy wrote: »

Hi Everyone

Thanks for all your (sometimes useful) replies.

I can clarify the following:

1. He is 29 and I am 34.
2. I take my wedding vows very seriously and I am not one of these people of today that seems to consider getting married for a while rather than for the rest of their lives.
3. I am not so blinded by love that I wouldn't have been able to tell if OH has a gambling problem!
4. I am shocked that several of you believe mental difficulties are a valid reason to end a marriage. Do those people only take the smooth with the smooth? OH has in fact got bipolar disorder which has hospitalised him in the past, and made both our lives very difficult at times. None of this matters because he is supportive and loving and pretty much perfect. I do not believe I am still looking at the relationship through rose tinted specs 6 years on.
5. I have thought long and hard about this decision. It was MY idea and he objected to it for some time.
6. I was actually after information on the practical mechanism involved to achieve passing OH half the house and any tax implications it might have on either of us, rather than judgement on my personal ability to make a decision.


If anyone can help with advice on the tax/financial implications of the situation I'd be really grateful

Many thanks

I see. It's the weekend. No school tomorrow.

Money_maker

I think peeps have been very helpful in suggesting caution is exercised. I understand that you take your vows seriously and hope your husband does too.

However, posters have been around a while and seen all the worst case scenarios of what can go wrong.

Better that you return in a few years and call us all f****** idiots and how wrong we were rather than be yet another thread where you regret making a hasty decision. To wait awhile will not cost you anything but may save you everything.

Good luck.

Edit: No one is questioning your abilities to make a decision but no one knows how the future will unfold and often unexpected situations arise.

Opinion

fatpuppy wrote: »

Hi Everyone

Thanks for all your (sometimes useful) replies.

I can clarify the following:

1. He is 29 and I am 34.
2. I take my wedding vows very seriously and I am not one of these people of today that seems to consider getting married for a while rather than for the rest of their lives. That doesn't mean he does.
3. I am not so blinded by love that I wouldn't have been able to tell if OH has a gambling problem!
4. I am shocked that several of you believe mental difficulties are a valid reason to end a marriage. No, but it's a valid reason to be extra careful, when you consider how bi-polar can affect a person. Do those people only take the smooth with the smooth? No, but people don't give people half a house to make things smoother.OH has in fact got bipolar disorder which has hospitalised him in the past, and made both our lives very difficult at times. None of this matters because he is supportive and loving and pretty much perfect.If I gave half a house to everyone loving and supporting around me, well, I'd have a few mortgages. I do not believe I am still looking at the relationship through rose tinted specs 6 years on. And yet most mortgages are for a term of 25 years, not 6.
5. I have thought long and hard about this decision. It was MY idea and he objected to it for some time. "Don't think of an elephant."
6. I was actually after information on the practical mechanism involved to achieve passing OH half the house and any tax implications it might have on either of us, rather than judgement on my personal ability to make a decision. You want practical advice on something so impractical it's making my eyes hurt.


If anyone can help with advice on the tax/financial implications of the situation I'd be really grateful The financial implication is that you're potentially giving someone tens of thousands of pounds because you have an emotional connection. Emotions are blinding.

Many thanks

Why on earth would you sign over half your house?

SuzieSue

fatpuppy wrote: »

Hi Everyone

Thanks for all your (sometimes useful) replies.

I can clarify the following:

1. He is 29 and I am 34.
2. I take my wedding vows very seriously and I am not one of these people of today that seems to consider getting married for a while rather than for the rest of their lives.
3. I am not so blinded by love that I wouldn't have been able to tell if OH has a gambling problem!
4. I am shocked that several of you believe mental difficulties are a valid reason to end a marriage. Do those people only take the smooth with the smooth? OH has in fact got bipolar disorder which has hospitalised him in the past, and made both our lives very difficult at times. None of this matters because he is supportive and loving and pretty much perfect. I do not believe I am still looking at the relationship through rose tinted specs 6 years on.
5. I have thought long and hard about this decision. It was MY idea and he objected to it for some time.
6. I was actually after information on the practical mechanism involved to achieve passing OH half the house and any tax implications it might have on either of us, rather than judgement on my personal ability to make a decision.


If anyone can help with advice on the tax/financial implications of the situation I'd be really grateful

Many thanks

Well, you can lead a horse to water.......

We've all tried, but the OP has made up her mind and I really hope it works out for her.

There are no tax implications as long as you have lived in the property as your main residence the whole time you have owned it and you and your husband are going to continue living in it as your main residences.

You will need to decide whether you are going to hold the house as joint tenants or tenants in common, but for your own protection, you must make sure it is held as joint tenants so that if he dies, his half of the property goes automatically to you.

I remember watching a program a couple of months ago, where someone has given half their property to a very close friend and the friend betrayed him by changing the way the property was held to tenants in common without telling him. I wasn't aware this could happen, perhaps someone more knowledgeable could advise.

Seanymph

There will be tax gift implications if you die within 7 years as well I think.

00ec25

Seanymph wrote: »

There will be tax gift implications if you die within 7 years as well I think.

not if the OP makes the transfer AFTER they have married - transfers (gifts) between spouses are free of tax implications either inheritance tax (the 7 year rule you refer to ) or capital gains

Scotchnan

Why was he so reluctant? Have you bullied him into this?
If its of no consequence to him why worry about it. Write a will.