Partial transfer of deeds

michno8

I bought a property with my partner some years ago but the mortgage was in my sole name.  We had a declaration of trust made up of 50% each . The mortgage is now paid up and I wish to add her to the title as tenants in common . What forms would I need please? . I would like her  to have a lifes interest for my 50% share but for that share to eventually go to my children . Can that be added to a will . Thankyou 

propertyrental

Has the Charge for the mortgage been removed from the property Title? The lender should have confirmed this to you, but the Land Registry may take some time due to backlog.

There is a process to expedite applications with the LR where another transaction is dependant on it. Your mortgage lender would have to request expedition.

If you're not sure, download the current Title from the LR for £3 here.

Once the charge is removed, you'll need (I think) forms TR1, AP1 and ID1 to transfer ownership.

But you should also draw up a Deed specifying the % shares, and also, critically, what happens in various potential future scenarios. eg you split up, whatever.

A 'life interest' does not seem relevant. As long as you remain joint owners, you'll continue to be... a joint owner.

Yes, a will is essential to leave your share to your children, though that can be problematic if they end up owning 25% each (if 2 of them) with partner owning 50%. Who decides what? Who lives there? Do on-resident owners (your children) receive rent from the occupant/owner.........?