Adding Wifes Name To Farm Deeds

C

Corktipp

Guest
Having been married for ten years ,with two children,my husband is now considering adding my name to the farm deeds.
My queries are
1.what are the advantages for me if he does this
2.what are disadvantages for me
3.what are overall positives and negatives for family
4.what is the cost of doing this.
I have not posted anywhere before but I am very familiar with all sites.Any input would be a help,before we go to family solicitor.
 
1. If he dies you automatically become entitled to be the sole owner and you do not have to take out a grant to his estate in order to do so. Therefore legal costs will be far less.
2. If you have creditors running after you looking for money they can now register a judgement against the land. Otherwise not too many disadvantages I can think of.
3. Well, your children won't automatically be entitled to anything on your husbands death, which you may consider either a negative or a positive.
4. Legal fees and land registry fees only. Ask your family solicitor. There are no taxes involved.
 
This is a no-brainer. Property should have been put in your joint names when you got married. Do not get into paralysis by analysis. Both of you call into your family solicitor.

At the moment no stamp duty or CAT involved. Better do it now, in case there is any change in that situation in coming budget.
 
I take it cannot be done if there is a mortgage on the property in his name only?
 
Thanks for usual concise info. Vanilla.
Putting my name on deeds upon marriage was a step too far,too quickly for my beloved."Festine lente" is his middle name.
No,there was no mortage or anything on the farm.
We have an appointment made with our solicitor.
Thanks to all.
 
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