how do u put ur son's name on the house deeds only - help!

rakesh_2

Hi Everyone

I am hoping u can all help. I am about to give up my job very soon and go into retirement. I have a mortgage on my house and my son who lives with me is prepared to pay off the whole mortgage in exchange that he would have legal rights over the house - i.e his name only go on the deeds. What do i need to do in order to get the deeds on his name only? What type of lawyer do i need, what paper work is involved. Does anyone know if there are any fees to pay for this despite just being a "simple" transfer of my name on the house to his name? Thanks in advance

Bossyboots

There are quite a few posts doing the rounds here about this sort of thing. You need to be careful in relation to inheritance tax, future care home costs and benefits if you do this.

You need to execute a transfer from you, to you and your son. On first reading, you are better off selling your son the share of the property equal to the mortgage he is paying off. This would be by the same transfer document. You need to see someone dealing with conveyancing. Thee will be fees incurred and you need to speak to the legal adviser about this.

You may find that you need two legal advisers as anyone acting for you should be ensuring you are not being coerced into this but it is also possible that they will assist you both.

garysletters

you would also need to ensure you get a secure tennancy agreement to ensure that you have every right to live in the house until you either die or decide to move out (care home ofr smaller house).
Otherwise your son, as unlikely as it may sound, could ask you to leave/kick you out, and you wouldn't have a leg to stand on.

theGrinch

might need to consider stamp duty

helen21_2

Can't you just sell it him for what is outstanding on the mortgage?

helen21

deemy2004

You can sell it to yuor son for a nominal amount of £1

Most solicitors should be able to draw up the paperwork

They will also advice you on stuff like that for 3 years if anyone claims against the property it will still be treated as its yours etc.

trace-j

garysletters wrote:

you would also need to ensure you get a secure tennancy agreement to ensure that you have every right to live in the house until you either die or decide to move out (care home ofr smaller house).
Otherwise your son, as unlikely as it may sound, could ask you to leave/kick you out, and you wouldn't have a leg to stand on.

Not want to sound morbid, you could see if you could pursued your son to leave your name on the deeds and you write a will stating he would get the house in the event of your death?