How to remove one owner from joint owned property?

RomfordNavy

Can anyone advise me how to change property ownership by removing one of the shared owners, property is currently in joint names. It is not very clear from the Land Registry website what form to use to do this.

Thanks,

TcpnT

First question is whether they are Joint Tenants or Tenants in Common?

Secondly when you say "remove" do you ean that one owner has died?

RomfordNavy

TcpnT said:

First question is whether they are Joint Tenants or Tenants in Common?

Secondly when you say "remove" do you ean that one owner has died?

No neither has died, just that one is getting older.  I believe the current ownership is Joint Tenants.

Browntoa

Depends on the value of the property and the age of the person you wish to remove.

Opens up possibly unexpected tax liabilities and if they are quite elderly or could reasonably expect care sooner rather than later then "deprivation of assets" may apply.

Don't think it's quite as simple as you think 

shiraz99

RomfordNavy said:

TcpnT said:

First question is whether they are Joint Tenants or Tenants in Common?

Secondly when you say "remove" do you ean that one owner has died?

No neither has died, just that one is getting older.  I believe the current ownership is Joint Tenants.

Can you explain you intentions behind this, other than "one is getting older"?

RomfordNavy

So does anyone actually know what Land Registry forms are necessary to transfer ownership?

Quorden

Putting aside the valid point about deprivation of assets I think, assuming that Person A is gifting rather than selling their share of the property to Person B and that there is no mortgage or other charge on the property that the following applies;

• AP1 Form - This is your application to change the register. You’ll need information about your local council, details of the applicants as well as information about any documents which you are enclosing, such as birth and marriage certificates.
• TR1 Form - This form is about transferring the property. Before you fill this in, you will need to find out if the property is registered, and whether there are any clauses or restrictions that require action before the transfer can take place. This must be signed by both of the property owners.
• ID1 Form - This is a form which will verify your identification. You will need to take this to a solicitors’ firm in order to obtain certification of your identity, and some firms may charge a fee for this. You’ll be required to bring a valid form of photo ID, such as a passport or a (full) photocard driving licence from the UK, EU, Isle of Man or the Channel Islands. As well as this, you’ll need proof of address in two forms.

Fill them all out, include all the documents, post it off to HM Land Registry.

RomfordNavy

Quorden said:

Putting aside the valid point about deprivation of assets I think, assuming that Person A is gifting rather than selling their share of the property to Person B and that there is no mortgage or other charge on the property that the following applies;
...

Fill them all out, include all the documents, post it off to HM Land Registry.

Very helpful, thanks.

Keep_pedalling

This would be a rather stupid thing to do. Getting older is the last reason why anyone should give up their long term security.

74jax

If its down to getting older and not wanting to pay care home fees, be aware they could well be assessed as though they had the asset anyway, so it doesn't get out of paying.
You could go to tenants in common, so you know 50% of the property will be safe regardless. 

Keep_pedalling

74jax said:

If its down to getting older and not wanting to pay care home fees, be aware they could well be assessed as though they had the asset anyway, so it doesn't get out of paying.
You could go to tenants in common, so you know 50% of the property will be safe regardless. 

The house would be disregarded anyway as long as the younger fitter owner was living there.