Removing name from title deed

mbugsy18

My brothers and I are on the title deeds of our family home. I have been living in the house since my father died in 1997. I have looked after my Aunt who was disabled on my own since my father’s death. His will stipulated that the house cannot be sold until her death which was sadly on Dec 31 2016. One of my brothers has asked me to remove his name from the title deeds should anything happen to him as he doesn’t want any of his spouse’s relatives have a claim on the house.
Is this something I can do without a solicitor?
What would I need to do regarding Land registry to remove my brothers name from the title deeds?

LandyAndy

I would have thought he would be well advised to take legal advice before giving away what, I assume, is a substantial asset.

It might not be the cheapest way to go but I would get this done 'properly' if there is no other way to proceed.

G_M

Is there a mortgage?


Has he considered Capital Gains Tax?


For a straight transfer:


* AP1
* TR1
* ID1



See:
https://www.gov.uk/government/publications/registered-titles-whole-transfer-tr1

Mojisola

mbugsy18 wrote: »

My brothers and I are on the title deeds of our family home. I have been living in the house since my father died in 1997. I have looked after my Aunt who was disabled on my own since my father’s death. His will stipulated that the house cannot be sold until her death which was sadly on Dec 31 2016.

One of my brothers has asked me to remove his name from the title deeds should anything happen to him as he doesn’t want any of his spouse’s relatives have a claim on the house.

Why doesn't he write a will leaving you his share of the house?

mbugsy18

G_M wrote: »

Is there a mortgage?


Has he considered Capital Gains Tax?


For a straight transfer:


* AP1
* TR1
* ID1

Not sure about capital gains tax and why it should be considered?
both my brothers are well off and either retired or planning retirement so don’t feel the need to claim their ‘share’. I have invested a great deal in extending and improving the house for my Aunt who was disabled.
So just thinking of a straight transfer. No mortgage.
Is stamp duty liable?

gingercordial

mbugsy18 wrote: »

My brothers and I are on the title deeds of our family home. I have been living in the house since my father died in 1997. I have looked after my Aunt who was disabled on my own since my father’s death. His will stipulated that the house cannot be sold until her death which was sadly on Dec 31 2016. One of my brothers has asked me to remove his name from the title deeds should anything happen to him as he doesn’t want any of his spouse’s relatives have a claim on the house.
Is this something I can do without a solicitor?
What would I need to do regarding Land registry to remove my brothers name from the title deeds?

Can't he just leave his share directly to you in his will, so it doesn't go to his spouse/her relatives?

Or is there a danger of him getting divorced? If that's the real story, courts take a very dim view of partners trying to offload assets...

Otherwise it's very nice of him to be giving up this asset just to protect you...

Tom99

mbugsy18 wrote: »

Not sure about capital gains tax and why it should be considered?

[FONT=Verdana, sans-serif]Your brother will be liable to CGT if he has not lived in the house the whole time since 1997.[/FONT]
[FONT=Verdana, sans-serif]Since you are connected parties the CGT will be based on the current open market value of the property not any sum you pay him for his interest.[/FONT]

xylophone

You, your father and your aunt lived in a property wholly owned by your father?

Your father's will left the property to you and your brothers but with an interest in possession/right of occupation to your disabled aunt?

You and your brothers now own the property as tenants-in-common?

He wishes to make you a gift of his share?

This will be a PET from the point of view of IHT on his estate but there could be a CGT liability now?

mbugsy18

Thanks for all the information and advice. No I don!!!8217;t think he plans to divorce his wife they had a very long engagement. He just doesn!!!8217;t want her family having a claim to the house. I shall talk to him about his will. If no monies are exchanged is CGT still due? The current value of the house is £450K.

AnotherJoe

mbugsy18 wrote: »

Thanks for all the information and advice. No I don!!!8217;t think he plans to divorce his wife they had a very long engagement. He just doesn!!!8217;t want her family having a claim to the house. I shall talk to him about his will. If no monies are exchanged is CGT still due?

Most certainly yes otherwise it would be an easy loophole to evade it.

mbugsy18

Thanks to everyone who has contributed.