Changing to Joint Tenants

Beckylou88

Hi, I am in the same situation and would like to move from common to joint.
Can anyone advise what I need to do? What process and forms need following? Thanks All!

xylophone

would like to move from common to joint.

https://www.gov.uk/joint-property-ownership/change-from-tenants-in-common-to-joint-tenants

judy7007

We want to change from tenants in common to joint tenants as if we are joint tenants and hold no other property or bank accounts in single names we are under the impression we will not need to apply for probate.

We are having big difficulty in achieving this change. There is no trust deed. I can!!!8217;t get the same answer from any 2 solicitors. We actually want to do this ourselves but so far it seems to be impossible.

Any help most appreciated.

xylophone

https://www.gov.uk/joint-property-ownership/change-from-tenants-in-common-to-joint-tenants

getmore4less

judy7007 wrote: »

We want to change from tenants in common to joint tenants as if we are joint tenants and hold no other property or bank accounts in single names we are under the impression we will not need to apply for probate.

We are having big difficulty in achieving this change. There is no trust deed. I can!!!8217;t get the same answer from any 2 solicitors. We actually want to do this ourselves but so far it seems to be impossible.

Any help most appreciated.

Probate is not needed for TIC on first death.

xylophone

Probate is not needed for TIC on first death.

See below.



https://www.gov.uk/wills-probate-inheritance/property-and-bank-accounts

If the property was owned under a tenancy in common; (common owners in Scotland and coparceners in Northern Ireland), 2 or more people owned the home either in equal shares or a defined percentage.

The person's will (or the law if there's no will) decides who inherits their share.


When a grant of representation may not be needed
You don't normally need a grant if the estate either:

passes to the surviving spouse or civil partner because it was held in joint names, for example a savings account
doesn't include land, property or shares

https://www.gov.uk/wills-probate-inheritance


https://www.finalduties.co.uk/joint-tenancy-vs-tenants-common/


In these cases it is easy to see why someone would change the way they own a property. However you should consider how this change can affect the administration of your estate when you pass away. When a property is owned as tenants in common there is no survivorship clause, this means you can pass your percentage of the property to whomever you choose in your will. However whether you choose to leave it to your spouse or someone else in both cases the property will need probate in order to pass your share onto your chosen beneficiary. This is because your share of the property is a significant asset in your sole name.

Also https://www.citizensadvice.org.uk/family/death-and-wills/dealing-with-the-financial-affairs-of-someone-who-has-died/#do_you_always_need_probate_or_letters_of_administration

However, if the partners are tenants in common, the surviving partner does not automatically inherit the other person's share. Probate or letters of administration will be needed

getmore4less

The land reg rep has clarified this many times

You do not need a grant if there is any surviving legal owner.

All those links are wrong the land reg will deal with the change in legal ownership without a grant.

judy7007

It seems I have been given wrong information along the way and indeed a Grant of Probate will not be needed on the first death (everything else in joint names). It still makes sense to me to remove the restriction using forms RX3 and ST5 to avoid any further sales difficulties (surviving spouse or beneficiary when we have both died).

I had my first attempt at these forms returned and, never one to give up, I am going to try and submit them again. A solicitor quoted me almost £400 to do this so I bought a template for £13 (changing from tenants in common to joint tenants). Really hoping all will go smoothly this time. It just seems it could avoid any possible hassles in the future.

ryvington

Good morning,

Please advise if I have no choice but to engage a solicitor to prepare a trust deed?

Thanks

DCa75

I'm in the process of trying to do this also. My bank have refused to accept my application for a new mortgage with them (yes I'm not switching banks!) as they now say the current Declaration of Trust is not acceptable.

What's making things more complicated is that they are insisting on certain clauses being put in the New Deed to satisfy their requirements.

I'm trying to use an online company to sort the new Joint Tenancy Deed but they are reluctant to deal with me due to the banks demands.

The company are deedoftrust and charge. Flat fee of £150 + disbursements (£30 roughly). Doesn't sound too expensive if only the bank wasn't being so obstructive.

I'm getting paranoid they are doing it because they don't want to go through the with the mortgage offer I have from them. 2.49% for 10 years. I have 6 months to sort this out as they tell me this is how long the offer lasts.