• Transfer Ownership Of House To Relative

    By Guest on 17th Feb 2018

    As a joint tenant with my mum, I would like to transfer my ownership of house to sister. No mortgage. I would however, still reside alone in the property. Is this possible and would I have to then pay rent?

  • 1 Answers

    By Guest on 28/02/2018

    Joint Tenants of property cannot transfer their share of a property without first severing the joint tenancy to become tenants in common. A tenant in common can then transfer their share of a property to a third party. It would be usual to agree between the joint tenants how much each would own of the property following the severing of the joint tenancy, this could be recorded in the TR1 when Transferring the property to a third party. There may be Stamp Duty Land Tax implications for the third party to consider.


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