K
As explained above there's a number of considerations you need to take into account, but by far the largest of these is that you are not the sole exclusive owner of the property concerned. Your bank which has a financial stake in the property and which presumably holds the title deeds would have a major say in any attempt you might wish to make to dispose of it or divest yourself of your "share".I am a sole owner of a house and considering to make a gift of that property to my 5 year old daughter ... the house has a mortgage on in ( half way paid ). ...
The reason behind this is that we cannot get married and my partner is paying the mortgage together with me, so she is entitled to the half of the property which is almost repaid at this stage.
well, we went to the bank and they didnt have any problem with putting my partner as a 50 % owner of the property as they were getting a second guarantor on the mortgage repayments as opposed to one they have at the moment.. the thing is that she would lose her first-time buyer relief if we do so, therefore we were thinking to put our daughter as a second owner and her mother would give a personal guarantees on the repayments together with me, what do you think?
The reason behind this is that we cannot get married and my partner is paying the mortgage together with me, so she is entitled to the half of the property which is almost repaid at this stage.
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