Changing interest in property

Posted by arthurphillips PM | on Sat, 02/02/2013 - 20:52 947 15 comments | report

I have a situation where an individual owns a property, and wishes his wife to benefit from the rents and the property from now on.

He has drafted a deed, which gives his wife the property.

The Financial advisor says that is all that has to do - he can hold the legal ownership - and not tell the Land Registry (and I assume the mortgage company) - as he has transferred the equitable interest to his wife.

In other words created a trust.

The deed says that he did this on 6th April last year, but it is dated today.

Is this ok?

They did not own the property jointly?

Comments

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Small matter

should_be_working | Sat, 02/02/2013 - 21:04

What form should go to HMRC?

arthurphillips | Sat, 02/02/2013 - 21:42

Form 17

ACDWebb | Sun, 03/02/2013 - 08:44

There is of course...

George Attazder | Sun, 03/02/2013 - 09:04

All all echo my thoughts!

arthurphillips | Sun, 03/02/2013 - 13:41

Backdating is not acceptable

TaxationPete | Sun, 03/02/2013 - 15:20

Ok -

arthurphillips | Sun, 03/02/2013 - 19:08

No

George Attazder | Mon, 04/02/2013 - 10:58

Actually, there may be consideration

MBK | Mon, 04/02/2013 - 12:41

But then...

George Attazder | Mon, 04/02/2013 - 13:18

I have often wondered in

KarenCCarr | Mon, 04/02/2013 - 13:24

Nemo dat quod non habet

George Attazder | Mon, 04/02/2013 - 13:51

Can you back date a gift?

henry williamson | Mon, 04/02/2013 - 14:52

I read about a man today...

George Attazder | Mon, 04/02/2013 - 15:35

Secret gift of beneficial interest in house

law man | Wed, 06/02/2013 - 14:34