Transfer of house

pidleynet

Morning
Any advice on the following would be greatly appreciated:


My parents have now both died and probate is nearing completion. As I'm separating from my wife, the plan is for her to have mum & dads old house, as part of the financial settlement. The house will be 'signed over' to her.


I will have legal control of the house, so how do I go about transferring into her name? Will there be Stamp Duty to pay? The inheritance of the house is split 50/50 between me and my sister, so I will have to give my sister 50% of the house value. The house is worth about £160k.


Thanks for any advice!
Mark

davidmcn

There's an SDLT exemption for transfers which are part of a matrimonial split, so nothing due to be paid.

As for how you do it - in theory both you and your wife could DIY it, but are there no solicitors involved so far in the probate or separation?

pidleynet

No, we've managed to sort everything ourselves.


I did look at the transfer form on the Land Registry website and it looked straightforward, so may give it a go myself. I did the probate myself with no issues.

Land_Registry

The forms can be relatively straightforward and we do supply completion notes and videos to help you with forms AP1 (application form) and the TR1 (Transfer).

If the property is registered in your late parent's name then have a read of our http://www.landregistry.gov.uk/public/when-a-property-owner-dies that aspect as a precursor to then completing any Transfer. You mention that it is an old house so if they lived there for a number of years it may not be registered but I suspect you have already confirmed that.

I would however always recommend seeking legal advice as well particularly if there is a separation/divorce/settlement involved. It is often prudent to consider wills and future events/intentions re the property as well but these would probably not be included in or covered by the registration aspects.