• I Intend To Gift 95% Of My Family Home To My Wife, Retaining 5% Ownership Yourself. I Want The Legal Titles To Be Properly Recorded At The Land Registry And Held As ‘tenants In Common’ With The Ownership Proportions Defined. These Will Be The Proportions

    By Guest on 16th May 2019

    I think all I have to do is a deed of trust and to register the restriction in the Land Registry.I don't think I have to transfer the equity as well. Am I correct? Is there any advantage in transferring the equity as well?

  • 1 Answers

    By Guest on 17/05/2019

    If the legal titles are to be Tenants In Common then you would need to execute a TR1 to transfer the equity. You could also enter into a deed of trust setting out the terms of the trust if you wish.

    If you want the legal title to remain as it is (I am assuming you are presently sole owner) then you could just do a deed of trust and apply for a Form A restriction at the Land Registry if there is not already one there.

    You may wish to instruct a conveyancer to assist e.g. Notary Express on 03333 122 221

    www,notaryexpress.co.uk

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