We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Transfering ownership in family.
Comments
-
SDLT for additional properties to which the higher rates apply takes effect if the price is £40,000 or more. There is a write up about it here: https://www.zoopla.co.uk/discover/buying/q-a-new-3-stamp-duty-surcharges/Heisenberg01 wrote: »I thought it was 0 if purchase cost was below £125000?0 -
SDLT for additional properties to which the higher rates apply takes effect if the price is £40,000 or more. There is a write up about it here: https://www.zoopla.co.uk/discover/buying/q-a-new-3-stamp-duty-surcharges/
Many thanks, it was something we had not considered.
Are we missing anything else? is it just a matter of changing the names at the land registry, is it that easy?0 -
It can be quite simple from a registration perspective but that is rarely the only thing to consider.
If the property was registered in their joint names with a form A restriction then the legal ownership has passed to your Mother. We don't use the term tenants in common in the register but I suspect they applied for a form A restriction to protect the arrangements made re wills/trust
Our online guidance explains how your Mother can transfer the property to your sister
It's not a case of turning up at one of our offices and signing forms but I suspect you may be referring to having their identities verified. The guidance explains what is needed though.
The application should include an official copy of your Father's death certificate/probate
If there is a form A restriction and it's no longer needed then the application will have to include evidence to that effect. It's a transfer not for full value so Sister will have to show how she has become the sole legal and beneficial owner for example. The linked guidance explains what evidence is required
Whilst on paper it appears simple we would always recommend seeking legal advice/assistance“Official Company Representative
I am the official company representative of Land Registry. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards