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

LandyAndy

I divorced 23 years ago
After getting divorced I bought a house. MrsLA2 moved in with me soon after.
About 10 years ago I gave her half the house.
It didn't seem like a terribly odd thing to do.

fatpuppy_2

SuzieSue wrote: »

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.

I also own mortgage free - hence I said that I own it outright

SuzieSue

fatpuppy wrote: »

I also own mortgage free - hence I said that I own it outright

Yes, I realised that, the difference I was referring to was that my husband also owns he own property (I assumed yours didn't) as you didn't say, perhaps I was wrong.

fatpuppy_2

Scotchnan wrote: »

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.

I do have a will already which leaves quite a lot of things to him including the house.

I did explain why I want to do it - because I want the relationship to feel equal, and for him to be able to make decisions on the house/improvements/moving and how we use the money. At the moment it feels like he's asking permision and it feels uncomfortable for us both.

No I didn't bully him into it. How do you bully someone into accepting property as a gift?! His first response was "no" because he felt i'd worked very hard for it and he didn't feel right just getting half a house for nothing. I said to think about it for a week and it was fine either way.

fatpuppy_2

Scotchnan wrote: »

Is a will cheaper than changing the deeds?

A will isn't what I am trying to achieve. A will gives him the house when I die. I want him to enjoy ownership while we are both alive!

fatpuppy_2

pimento wrote: »

The only Bi-Polar man I ever knew could spend money like a man with no arms during his manic phases.

They must all be the same then

pinkteapot

What a cynical bunch. "Almost half" of marriages end in divorce? Well that means that more than half are successful. None of us knows the OP, or has any idea what she and her husband are like. We have no idea what their financial situation is beyond the fact that she owns a property. For all we know, he could be substantially wealthier and not have the slightest interest in the equity in this house. There simply aren't enough facts given to make judgements like those being made here. Warning OP of the possible ramifications makes sense. Calling her bonkers is unfair.

The trouble with forums is they can give you a bit of a warped view of the world. People come here when they have a problem or need advice. All those millions of married couples who are perfectly happy don't post about problems agreeing on equity shares. There are a lot of people out there for whom life is straightforward and happy.

OP - I understand why you want to do this. My husband and I got married in 2010 and we have fully joint finances (though that certainly doesn't seem to be the norm these days). We're married; it's a partnership and we know we have £x to spend per month between us and we have £x in savings. Everything we brought from life prior to this is now "ours". I'll probably get lambasted now as well but I just wanted you to know that not everyone thinks you're nuts.

ejc81

fatpuppy wrote: »

Hi

I'm recently married and own the home we live in outright (no mortgage). I would like to give half the house to my husband.

How do I go about doing this and what are the CGT implications?

Would it be owned by him automatically anyway in a certain amount of time? The deeds are solely in my name and I owned it for several years before we married.

Many thanks in advance!

I can't answer your questions which you clearly stated above but just wanted to say welcome to the forums! There are always plenty of people on here that are willing to critise or ask silly questions....just ignore them because there are also many lovely folk on here that know what they are talking about and one of them will usually give you a straight answer eventually

It would just be much easier for us all to find answers to these questions and generally save everyone a great deal of time if some of us kept our opinions to ourself, because I don't think you asked for those!

Good luck

SuzieSue

ejc81 wrote: »

I can't answer your questions which you clearly stated above but just wanted to say welcome to the forums! There are always plenty of people on here that are willing to critise or ask silly questions....just ignore them because there are also many lovely folk on here that know what they are talking about and one of them will usually give you a straight answer eventually

It would just be much easier for us all to find answers to these questions and generally save everyone a great deal of time if some of us kept our opinions to ourself, because I don't think you asked for those!

Good luck

Yes, there are a lot of lovely, caring folk on here, who would like to stop the OP making a mistake. We don't know her, but we care about her as a human being, so we would like to stop her making a mistake if we can.

The OP has to make her own decision, but I couldn't live with myself if I just answered her question (which I did for the tax part) without telling her why I wouldn't do it. It is a natural instinct for me, because I care about people.

The OP doesn't have to listen, which it looks like she won't, but that is her decision. Hopefully this thread will help someone else.

mufi

fatpuppy wrote: »

They must all be the same then

Some of the behaviour displayed is common to all sufferers; it's the degree that varies - it used to be called manic depression for a reason, until someone came up with the bright idea that it was more PC to call it bi-polar.

A distinguishing feature of the condition is a feeling of utter invincibility during manic phases; not the sufferer's fault, but a fact nevertheless. When my father, who suffered from it, was in manic mode, I would not have left him in charge of a goldfish, let alone half a house. If the OP's husband does not have the fanciful idea that he is invincible when in manic phase, then he's not bi-polar...

On a factual level, you've had good advice from Richard Webster. As usual.

Good luck and I hope you have a long and happy marriage.