Transfering ownership

Shazwebb

My mother owns a house with her ex-partner they have beenseparated for 12 years

The partner still lives in the house and it is a beneficialtenancy. The house was purchased outright

And has no mortgage. She now wants to transfer ownershipto me, can she do this as it stands and I will be a beneficial tenant? or doesit first have to be changed to common tenancy?What forms do I need to do thismyself?

G_M

I assume you mean mum and Ex own the property as "Beneficial Joint Tenants"?

I'm no expert but the Land Registry site says that ownership cannot be transferred without the permission/agreement of both Joint Tenants. ("You must all act together as a single owner, for example on a remortgage or a sale.")

Is the Ex in agreement with this plan? With his agreement, there should be no problem. Contact the LR and ask what forms are needed.

If he does not cooperate though, you have a more serious problem.

xylophone

As I understand it your mother can sever the joint tenancy without the agreement of the other party?
http://www.landsearch.net/joint_tenancy.asp
She can see her solicitor about this.
Once this is done she can gift her portion of the house to you?

Richard_Webster

A joint tenancy can be easily severed but the key point is that whether they are joint tenants or tenants in common makes no difference to the point that the partner will have to sign the transfer deed - she cannot transfer her "half" without his signature.

DVardysShadow

Richard_Webster wrote: »

A joint tenancy can be easily severed but the key point is that whether they are joint tenants or tenants in common makes no difference to the point that the partner will have to sign the transfer deed - she cannot transfer her "half" without his signature.

Without the signature, the best that can be done is to sever the joint tenancy and transfer the tenants in common share by will.

This will avoid a capital gains tax liability, but create a potential Inheritance Tax liability.

At least, that is my take.

xylophone

So a tenant-in-common cannot make a gift of his own property without the consent of the other tenant-in-common?
I had thought that a t-i-c could gift, mortgage, bequeath his share without the consent of the other party?
I had thought that the restriction at the Land Registry was simply to prevent one T-I-C attempting to sell the whole of the property without reference to the other co-owner?
http://www.decimusfearon.com/publications/documents/purchasing_a_property_in_joint_names

"If you chose to own a property as joint tenants, either owner can at a later stage serve a simple formal written notice on the other requiring the ownership to be declared as Tenants in Common in equal shares (joint agreement is required if held in unequal shares).

"It is possible to transfer or gift your share in the property to a third party without requiring the consent of your co-owner. However, you should always take legal advice before doing so."

Presumably the OP will have to see a solicitor to clarify the law in this particular case?

granoftwo

I am in a similar position and am hoping to transfer my share of our property (with husband,s consent to another party(bank/building society) for cash.
Is this possible?