Do I need a solicitor to change name on house deeds?

Conrad3000

Hi all.

As the thread title states, do I need a solicitor just to change the name on the house deeds?

The property is fully paid (no mortgage) and it's less than a £100,000. It's a small terraced house.

The name change would be from my sibling to myself. That's it.

Thanks.

jaybeetoo

You don’t need a solicitor but see the warning on the Land Registry website. If you’re not sure then use one. The transfer process is outlined in this link.

Land Registry

doodling

Hi,

So, to be clear, your sibling is giving you a house?

A lot of people ask questions about changing names on deeds as if it is an administrative thing but it isn't always clear that they understand that it has real world meaning.

Note that it is modifying the Land Registry entry nowadays rather than deeds - if the property isn't registered then I would definitely recommend using a solicitor.

Obviously, with a gift of that size there are other things (deprivation of assets if the person making the gift is on benefits or likely to need care, any inheritance tax implications, etc.) which I assume have been considered.

Keep_pedalling

If this is an inheritance rather than a gift or purchase then there is no point in transferring the property unless you plan to keep it.

freesha

Proceed with caution - more context needed on WHY they are giving you a house? Are they trying to offload assets for some reason?

Conrad3000

Thanks for the responses so far, guys.

Basically the sibling wants to move and free herself from the house.

She's planning on moving into another property with her husband so she wants a clean slate. She doesn't want any 'interference' from the old house towards another (if there would be any).

And I'd be keeping the property as my permanent home.

sherlock228

https://forums.moneysavingexpert.com/discussion/comment/82054496#Comment_82054496

does sibling live in it with her husband?
has it always been her main home for as long as she has owned it, before and post marriage?

potential CGT implications for sibling…
and if it ever ceases to be your own main home then you need to be very clear what its "value" was at point you became owner in case of any future CGT for yourself

Conrad3000

Sibling at the moment is sharing a flat with her spouse. No doubt they'll be looking to purchase a property in the near future.

So basically all I'd need to do is send off some ID documents to the Land Registry dept after filling out certain forms and that'll be it?

silvercar

https://forums.moneysavingexpert.com/discussion/comment/82055153#Comment_82055153

sibling has a potential CGT liability. She needs to inform hmrc of the ‘sale’ within 60 days and pay any CGT at the same time. As you are related the sale is deemed to be at market value.

sherlock228

ok so sibling needs to "lose" ownership of a house she does not live in so she can (quite legitimately) avoid higher rate SDLT when she finally buys a place of her own as otherwise she would be paying additional rate for purchase of a n additional property

sibling does not live in the property and therefore is liable to CGT on its disposal. Disposal to you as a "connected person" (ie related to her) falls under the market value rule

Conrad3000

Thanks all.

What if I slightly turned this around? What if *I* decided to transfer ownership to a family member or someone else?

I'd still be living in the property btw.

Also if my sibling gave me the house, I thought there'd be no CGT to pay? It's only applicable if there's money and profit involved?