UK Property Law
Ask an UK Property Law Question, Get an Answer ASAP!
Thanks for your question.
To enable me to answer your question could you please respond to the following:-
Is your question therefore - "can I transfer my interest in the property that I now hold to my children so that they then own the property?"
Thanks for your question.
I assume you are registered as tenants in common and not joint tenants.
If you are named as registered proprietor with your ex-partner and his father then they will require your consent to any transfer because you would have to sign the Land Registry Transfer form. If you are not willing to do this then they would have to apply for an order for sale of the property.
In the absence of any trust document to the contrary the presumption is that you own in equal shares, so there would be a presumption that you own 25% (with your ex-partner's woman passing to your ex-partner). This can be rebutted to an extent if you are not paying any of the mortgage payments , but it is not easy and it would require litigation by your ex-partner and his father so you should not agree to transfer without receiving a fair price for your equity.
You cannot transfer your interest to your children at the present time because in order to do so the mortgage company would have to consent to the transfer and they are not likely to do this. The transfer cannot be registered without their consent and children are not permitted to own a title in land if under 18. What usually happens is that the property is written in trust for them by the parents in the form of a bare trust.
You are of course free to write your Will so that your interest passes to your children upon your death. It would be held on trust for them until they are of age.
If this has been useful please kindly click accept so that I may be rewarded for my time. If you do not click accept your money stays with the site and I do not receive any credit for the time I have taken to answer your question.
I will answer your follow up questions you may have.
is any of this stopping the 25% owned by the deceased going to the relevant party i.e her son. Is it not possible to carry out her wishes regardless of my position? His father says its stopping him making a new will (as he is about to re-marry and wants to sort out his estate).
Are you saying in effect there is nothing i can do except make a will out for my interest to be passed to my children in the event of my death.
Therefore my name remains there and nothing changes from as it is this day.
The house is also a dwelling for my children as their father resides there so i would not want to make the foreseeable future of the house unstable by requesting money for my share through forcing a sale. (if that is something i could do?)
The deceased's Will stipulates who it should go to, if it states that it should pass to your ex-partner then it should, but the mortgage company will need to be notified.
Yes, I'm saying that you cannot transfer your interest at the present time to your children because there is a mortgage on the property which prevents a transfer.
You could apply to Court for an Order for the sale of the property, this would (I should have thoguht) then precipitate an offer to buy your share from your ex-partner/his father which you would be free to accept/reject. The children's welfare would be the most important consideration of the Court in deciding whether to make an order for sale.
I trust this clarifies, if so please click accept.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).