Putting house into joint names

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partnership

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Not sure if this is the right forum. House is in husbands name because it was his family home and we used his share as deposit and bought siblings out. Solicitor said we would pay tax if my name put on it but could change in s few years. Is this something we can do without solicitor. Mortgage is in both names.
 
If you are married, property is deemed to be in both your names, so you don't need to do anything.
 
DannyBoyD said:
If you are married, property is deemed to be in both your names, so you don't need to do anything.
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IANAL but I understand this isn't correct.

If a spouse dies in sole possession of a property, doesn't the surviving spouse have to take out probate in order to inherit it, while if it's jointly owned, ownership of the deceased spouse's share transfers automatically?
 
partnership said:
Thanks Danny boy, I thought it might make things easier if anything happened him.
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That's a different question!

As you are married, your home is protected. It cannot be sold or mortgaged without both parties consent.

Do you have children & have you both made wills?
 
If the property were put in joint names by way of 'joint tenancy' it falls outside the Will and on the death of one party the survivor takes all. The protections even if it is in a single name mean it cannot be sold or used as security under Family Home Protection Act 1984. The cost of putting the property in joint names (joint tenancy option) I think is not expensive.
 
At the time my late parents made their wills they also executed a deed of transfer, putting the family home into their joint names. The consideration for same was "natural love and affection", and I learned when dealing with their estates that it is a widely used in circumstances such as theirs.

It certainly meant dealing with their estates easier as nothing needed to be done except adding my late Dad's death cert. To the deep pack when he pre-deceased my Mother.

I can't speak to what the cost of the process was.
 
Just checking back in. Had contacted solicitor who wouldn't give me an estimate until I contacted mortgage holder about. Does anyone know the cost of this? Also we hope to rent it out and go abroad. Is there any tax benefit to it just being in one person's name
 
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