• Transfer Of Equity Or Deed Of Trust

    By Guest on 20th Jan 2020

    I currently own a property which my mother loves in. I helped her buy the property over 25 years ago when she separated from my dad. I would like my sister to benefit from the property as my mum paid off the mortgage. However, my sister is a controlling person so I'm looking into the best way to ensure she benefits when my mum is no longer here. My sister is worried that if anything happens to me my husband will receive the property. I'm unsure if I should transfer equity now or draw up an agreement to transfer 50% of the value upon the death of my mum. Any advice please?

  • 2 Answers

    By Guest on 20/01/2020

    Best advice would be to go and see a solicitor who specialises in Wills Trust & Probate. You want may to think about amending your Will or creating a Will in which you expressly leave this property to your sister You could put your sisters name on the title now and hold the property as Joint Tenants so if anything happened to you it would automatically go to her. Obviously you would need to consider any mortgage requirements if there is a mortgage and also SDLT. You could put in place a trust deed that says you hold the property on trust for your mum for her life and then 100% on trust for your sister. You need to think about what you would want to happen if your sister passed away before your mum, has she got kids? would you want them to benefit from the property or your husband? As I say best to go and see a solicitor who specialise in this area so you can cover all basis.

  • By Guest on 20/01/2020

    I second the advice provided by Guest above.

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