My parents bought their council house (in Scotland) approx. 6 years ago. I am paying half of the mortage, into their bank account and also paying the life insurance policy but my name in not on the title deeds. My parents now are not in good health and are asking if I should have my name put onto the title deeds. I have a brother who takes no interest in them, what woud he be entitled to XXXXX add my name to the deeds leaving theirs on it,would this change his entitlement
Province/Country relating to question : Scotland
Have been to the bank but this would mean taking out a mortage
Currently your parents can do anything they liek with the house and can very easily add you to the deeds leaving the house to you automatically in the event of their death - this is called a "survivorship destination" and means upon the death of any one of the three of you the dead persons share will pass equally to the remaining two and then on the death of the second person the remaining share will pass to the last surviving person. THis is quite normal and can be easily arranged.
THis would take your brother out of the equation all together. Alternatively, if they both leave the house to you in their wills then your brother will have no claim over the house as his claim over their estate would be to moveable property which is everything other than houses. This is less certain from your perspective however as wills can be changed or revoked at any time and there is the potential that there could be influence over a remaining parent etc in the future. If your parents did not have a will then upon the death of the last one of them their entire estate would be split between their children and this includes property as well as moveables so this is the situation you want to avoid.
If you are on the title to the house you have to consent to any changes to the title so this is a better position for you.
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LLB (Law Degree) and BA(Hons) Business Degree and Diploma in Legal Practice. Partner in own law firm
First of all thanks for a speedy answer, does put my mind at rest
one quick question, does the process of my name being added to the deeds take time
No time at all. Just the time it takes to see a solicitor and have the deeds drawn up and for the mortgage lender to consent to the change (which can take a few weeks too and presuming that they do consent).
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