I am gifting 50% of the value of my house to my partner.

Taffod

I am gifting 50% of the value of my house to my partner. There is no mortgage and no financial consideration. I have always done my own DIY conveyancing, but I am struggling to work out how to reflect this on the TR1. Any help gratefully received.

Happy with forms AP1 and ID1. And I have used TR1 before for purchases, but in this case, I already own the house fully - no debt. But I want to transfer 50% of it as a gift to my partner (not wife) . I;m happy that I need either a Deed of gift or to add something in the additional provisions panel that the transfer is out of natural love and affection.

Happy with differences between types of tenants

But I'm struggling with the more basic concept of how to illustrate that I'm transferring 50% to her. Do I transfer from me to the 2 of us, or just transfer half to her? Where on TR1 would I explain that please?

canaldumidi

I am gifting 50% of the value of my house to my partner.

No need for a TR1. Simply calculate the current value of the house  - get 3 EAs best guesses, or pay an RICS surveyor for a valuation).

Half the figure.

Then hand over the gift via bank transfer to your partner.

canaldumidi

OK - that was tongue in cheek! Sorry!!

You (X) are the current sole owner.

You are transferring ownership from X to joint ownership of X & Y. In terms of TR1 it is no different to selling the property to a new couple couple (A & B ).

You say you are happy with the different types of tenancies, so I assume since you want partner to own half the property, you will be Tenants In Common. If one of you should die, your or her half would then be owned by your/her beneficiaries under the will (or rules of intestacy).

(As Joint Tenants, as you know, you would each jointly own 100% of the property).