How to add partner to deeds?

B

BONDGIRL

Registered User
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Hi all,
I am just wondering how do I go about the following. I have a mortgage in my own name for my house. I want to get my partner now on the deeds. I have been meaning to do this the last yr, but never got around to it. Now I am being made redundant from my job I want to protect myself and my kids if anything should happen their dad i.e. if he died I would be left with mortgage. What happens here?
 
I should not, I want to protect him too, i.e. if I was to die etc. We will be married next yr but want it all sorted.
 
You should talk to your solicitor about this. The bank are going to have to consent and a Deed of Transfer will have to be executed and registered so that our house will be held by both of you.
 
thanks Missdaisy. A friend just said I might have to pay taxes on changing this because we are not married and why not wait until we are married?
I was talking to my bank and they said it shouldnt be a problem putting his name on file etc once solictor has done all the background work? I dont want to re-mortgage or anything like that.
 
Yes transfers between husband and wife are exempt from tax so if you are getting married soon maybe hold off.
 
Currently, you are not related in law, so if you give him half a house, even if the house is mortgaged, it is deemed a gift and he would be liable for Capital Acquisition Tax, of 20% of half the value of the house. This would not really be worth the money, even for peace of mind.

If you die and leave him the house in your will, he will be liable to tax also, unless he has been living in the house for 5 years and owns no other house.

If you are worried about your financial future, in the event of his death, you need to think about life insurance.
 
Thanks all,
He will be living in the house 5 yrs next yr... He owns no other house.
I rang my solictor, he said leave well alone for now... until we marry !!!
he said there is more chance of him leaving you and we all ending up in the high court then him dying!!! My solictor has a good sense of humour! although very Frank!
I will sort some assurance so!!
 
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