• Transfer Of Share

    By Guest on 20th Feb 2017

    We are joint tenants of a property we rent out - what is the procedure to transfer/gift my share of the property to my wife, entirelym making her the sole owner.

  • 3 Answers

    By Guest on 20/02/2017

    The transaction is called a transfer of equity. It involves you signing a transfer deed (Land Registry form TR1) from the two of you to her alone and registering it at Land Registry. If there is a mortgage on the property the lender's consent will be required and consent will only be given if the lender is satisfied your wife can afford the mortgage on her own

  • By Guest on 22/02/2017

    Thank you. The two properties we own are rented out and we currently pay tax on a 50:50 basis but we wish for my wife to have the sole taxation responsibility.Will the formal transfer be accepted by HMRC for taxation purposes?

  • By Guest on 23/02/2017

    Yes provided in reality you don't still claim half the rent

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