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Bill31
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Last Activity: 06-12-2019, 16:22 PM
Joined: 15-11-2019
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  • Bill31
    replied to removing name from deeds
    the solictor didnt do the transfer, me and my mum filled the form out ourselves.
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  • Bill31
    replied to removing name from deeds
    sorry i dont follow, please explain jp. so its not actually held in a trust?...
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  • Bill31
    replied to removing name from deeds
    ok when the land registry change was made on form tr1. the following was said
    Declaration of trust. The transferee is more than one person and
    (tick 1 option)
    1. they are to hold the property on trust for themselves as joint tenants
    2. they are to hold the property on trust for...
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  • Bill31
    replied to removing name from deeds
    this is all getting a bit scary now.
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  • Bill31
    replied to removing name from deeds
    leaseholder64 the property was not put into a trust. no trusts exist for anything. i will be seeing a specialist STEP solictor next week just to clarify it all.
    but i think at the moment what hasnt made this a bigger mess, is that my mum didnt transfer the sole ownership into just my name and...
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  • Bill31
    replied to removing name from deeds
    thanks jpkeates. i found all this confusing, but i think now im understanding what you have been saying, which is :

    As my mum added me to the deeds as joint tenants i dont have a share in the property, i own all of it. As does my mother. If we was tenants in common then we would both...
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  • Bill31
    replied to removing name from deeds
    When you gift a share of property does there have to be some written deed or gift. Is it considered official if just land registry is changed with oit any other docs ?...
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  • Bill31
    replied to removing name from deeds
    because isnt it true, if my mum was sole ownership (rather than us having put it in joint tenancy), the following conditions are true:
    1. after her death, the house would automatically pass to me.
    2. her IHT on estate would be £325k plus RNRB allowance 150k, and RNRB allowance of £150k...
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  • Bill31
    replied to removing name from deeds
    ok but if i wanted to can i remove my name from the deeds and leave my mother as sole owner, without any tax implications of me doing this. and i continue to live in the property.
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  • Bill31
    replied to removing name from deeds
    ok got ya. but say i die in 2021 because i have a share in the property would my total IHT allowance be £500,000 and not £325,000 ?

    also on another note can i remove my name from the deeds and leave my mother as sole owner, without any tax implications of me doing this. and i continue...
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  • Bill31
    replied to removing name from deeds
    jpkeates even if one of us died for eg me, HMRC did advise me that that only my half of the property forms in the estate for me. so for eg if property is worth 400k, my half is 200k that forms part of my estate when i die. but because we joint tenants the property will go to the other survivor regardless...
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  • Bill31
    replied to removing name from deeds
    if i passed away can my estate (including the joint property i have with mother) use the new 'residence nil rate band' (RNRB) ?

    The 2019/20 tax year has seen the RNRB allowance go up to £150,000 (meaning a total individual allowance of £475,000) and it will rise again by £25,000 in 2020/21...
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  • Bill31
    started a topic removing name from deeds

    removing name from deeds

    i wanted to ask a question regarding my position.
    i lived with my parents, my dad passed away. after he passed me and mum transferred the deeds of the house into both our names as joint tenants in 2016. (there is no mortgage and we continue to live there as our main residence).

    from...
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  • Bill31
    replied to properties previously owned
    no i didnt. but thats exactly what im doing now. i putting everything in order in terms of tax. i didnt understand all this before reg: tax but but sorting out all my affairs.
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  • Bill31
    replied to properties previously owned
    i give it a go. problem was i only ever been to it twice in my life.
    still surprised HMRC cant search against my name and tell me, would save me alot of time....
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  • Bill31
    replied to properties previously owned
    I did contact the estate agent i think it was and they wont very helpful and said their records are archived and not kept over such a long period. So no luck.
    Im surprised hmrc land reg cannot tell me this or get this info for me.
    They said something about a ha1 form but i need to know...
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  • Bill31
    replied to properties previously owned
    i dont have one going that far back, and im trying to sort it out now, hence need to know the information. i only had it for a short period of time 11 months or so, and was not good with keeping the paperwork....
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  • Bill31
    started a topic properties previously owned

    properties previously owned

    Is there a way of searching for properties i previously owned going back 8 years? i sold it 8 years ago, and im not sure of one of the addresses as it was up north. i dont have the paperwork either, but need to find this information out. land registry wasnt very helpful and kept saying i need to...
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  • Bill31
    replied to CGT question
    Yes correct name was removed from land registry as sister put her husband on. As house was nothing to do with me really it made sense to be removed....
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  • Bill31
    replied to CGT question
    so if i took my name of the land registry (disposed of my share) no CGT is due as i have not received any money? correct...
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