Changing interest in property
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?