Gifting my house

stuartvin

   

Flugelhorn

Why would you be doing this ? If you own it jointly then you both own all of it and neither of you have a 50% share that you can give to anyone

Are you trying to be in a state where you have no assets??

km1500

do you own it as tenants in common or joint tenants

tacticalbanjo

You won't be able to do anything with your share of the property without consent from your mortgage lender.

stuartvin

Flugelhorn said:

Why would you be doing this ? If you own it jointly then you both own all of it and neither of you have a 50% share that you can give to anyone

Are you trying to be in a state where you have no assets??

Yes it is so i have no assets

stuartvin

km1500 said:

do you own it as tenants in common or joint tenants

km1500 said:

do you own it as tenants in common or joint tenants

We are joint tenants

stuartvin

tacticalbanjo said:

You won't be able to do anything with your share of the property without consent from your mortgage lender.

Thank you.

Flugelhorn

stuartvin said:

Flugelhorn said:

Why would you be doing this ? If you own it jointly then you both own all of it and neither of you have a 50% share that you can give to anyone

Are you trying to be in a state where you have no assets??

Yes it is so i have no assets

I don't think you can put into just one name as your wife would have to buy you out and prove to the mortgage company that she can afford the mortgage on her income alone. 

Mmm suspect whoever your are trying to kid that you have no assets will see straight through this wizard weeze 

DullGreyGuy

stuartvin said:

km1500 said:

do you own it as tenants in common or joint tenants

km1500 said:

do you own it as tenants in common or joint tenants

We are joint tenants

If you are joint tenants then she already owns 100% of the house, as do you. 

Why are you trying to deprive yourself of assets? If its for vexatious reason then its possible for changes to be forced to be unwound or for you to be treated as if you still owned the asset. 

km1500

the way to do it is simple

firstly you tell the land registry you want to sever the joint tenancy. this puts the property as tenants in common with the default position you owning 50/50 each

you then gift your 50% share to your wife. the land registry is updated accordingly (your name is taken off the proprietor register) and your wife owns 100%

the problem is the mortgage company would have to agree to this

also if you are doing this so that you have no assets so that for example you wouldn't have to pay care home fees or whatever then this ruse will fail. apologies if this is not your reason.

Keep_pedalling

km1500 said:

the way to do it is simple

firstly you tell the land registry you want to sever the joint tenancy. this puts the property as tenants in common with the default position you owning 50/50 each

you then gift your 50% share to your wife. the land registry is updated accordingly (your name is taken off the proprietor register) and your wife owns 100%

the problem is the mortgage company would have to agree to this

also if you are doing this so that you have no assets so that for example you wouldn't have to pay care home fees or whatever then this ruse will fail. apologies if this is not your reason.

I think this may be more related to hiding assets from creditors, but I don’t think the OP is going to come back to tell us.