Can I add someone on to land registry?

Conrad

pinklipy wrote: »

I don't want he to own half, she DOES own half.

In which case she must be added to the land registry deeds.

But your lender will only acceed to this if she meets thier criteria, one of which will be to prove she lives there.


Otherwise you have to remortgage to a lender that accepts your joint situation, for example bad credit history etc.

Good luck.

pinklipy

God what a drama!
Why does the lender need to be involved? It is a buy to let mortgage so neither of us live their. We just have an understanding between us that half is hers, all I want is something legal on paper to confirm that? Is that possible?

Conrad

pinklipy wrote: »

Why does the lender need to be involved? It is a buy to let mortgage

A mortgage is an instrument that gives effective ownership to the lender.
The lender only lends in the knowledge they can repossess if the mortgage is ever unpaid.

If a third party, your Sis was given ownership rights, the lender could not easily respossess if you didn't pay the mortgage as your Sis in court would argue she had no part in the mortgage.

THIS is wht lenders must insist anyone on the property deeds must also be on the mortgage and accept the mortgage provisions (ie, agree to repossession in the event of mortgage default).

Imagine I ask you for £5000, and you in return ask for security - lets say my imaginary watch worth £7000. If I dont pay you back you can sell the watch.

What would you think if later I said, "oh my Brother wants halve ownership of that watch" but nothing to do with the loan?

It would mean then if I dont pay the loan you cannot sell the watch as a thrid party now owns it.

kingstreet

As the property is mortgaged, the lender has a right to consider any change to the title to its security.

You cannot make any change to the ownership without its permission. As has been pointed out, this will include any new joint owner becoming party to the mortgage and not just to the ownership.

System

It wouldn't be the case that the mortgage was taken out at around the time sis was possibly going BR by any chance?

Joint owners then Sis buys it from OP followed by OP buys it back. Throw in a mortgage in just one name. To quote OP she just signed the paperwork provided by sis which if not previously done at the inheritance point transfers the complete house into OPs name. This is about as hookie as it comes.

And now OP suddenly has an outbreak of sisterly concern because the new UC will shaft her for owning the whole house so needs to offload some of it to continue screwing the system.

Me cynical?

holly_hobby

Of course if the TIB became aware of the deliberate deprevation of assets as conducted between the Sister & OP, we have altogether another very serious can of worms opened don't we .....

The property is in you sole ownership - but you say she is a beneficial owner (BO) (although not on the deeds for financial reasons). Her status as BO also I presume including her share of the rent, and of course its declarartion to HMRC and DWP for tax and any state benefit purposes ?

To be blunt - and as stated - she can not go on the deeds without becoming party to the mortgage - period.

She has poor credit/ex Bankrupt - which causes further issues re mge facilities esp on a semi-comm basis.

So any mge arrangement is out - and there is no way round it.

Holly

kingstreet

I'm chanting my "play it with a straight bat" mantra over and over as I rock back and forth...

pinklipy

Thank you conrad & kingstreet, I really didn't realise it was as complicated as that, even though it now makes sense. So really their is nothing she nor I can do to show that legally it is half hers?

And yes mugwamp you are correct, of course the property got signed over to me as she was facing bankruptcy, why would we not? Why on earth would I risk it being repossessed when at the time i had a lot of equity in it? I was very young and had no children at the time so was in receipt of no benefits. And it's not sudden sisterly concern lol! She doesn't care as she's had all her ££ out of it but the debt is all in my name, I just don't see why I should suddenly get zero when the change happens. Get down of that high horse, I pay tax to you know!

holly_hobby

Hey Kings :j !

Yes I remember ..... if straight talking Mr J see's this, goodness knows what he'll come out with !! x

H x

pinklipy

I don't know what your all talking about, who is TIB and what deprivation of assets? Yes she gets half the rental income but it all goes back in to cover the mortgage and yes the taxman is aware, but it's 0 profit anyway.

Well it looks as though I'm stuck, will have to think of a plan b.