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Buyung Into Partners home with no mortgage involved
Thomastick
Posts: 3 Newbie
Getting slightly confused here. I've been living with my partner for a while now and have recently sold my house. I now want to buy half my partners house with the receipts from my house sale, so she can retire.. There are no mortgages involved. Is it simply a matter of amending the deeds to become Tenants in common? Any advice , greatly appreciated.
0
Comments
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In your position, I would get a formal valuation of your partner's house (RICS qualified surveyor) so as to determine the payment you will need to make to your partner to cover the transfer of equity.
You could then consult a solicitor about a Deed of Trust and the registration of the property in both names.
http://www.hip-consultant.co.uk/blog/transfers-of-equity-and-legal-ownership-of-a-property-123/0 -
Not sure, but may there be stamp duty to pay on the purchase ?0
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