changing names on property deeds

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changing names on property deeds

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lowri

Joined: 18 Oct 2006
Posts: 1322
Location: ceredigion

Posted: Wed Sep 07, 11 7:39 am Post subject: changing names on property deeds

My sister and I inherited a piece of land 25 years ago which is leased to what was the Nature Conservancy as (I think) an SSSI. (It's a piece of Newborough Warren in Anglesey). I have no idea if any deeds exist, we get a peppercorn rent every year. We want to put it in the names of my sister's children (I have none), and haven't a clue on how to go about it!
Anyone done this sort of thing, or can offer any guidelines?

Behemoth

Joined: 01 Dec 2004
Posts: 19023
Location: Leeds

Posted: Wed Sep 07, 11 8:06 am Post subject:
Call your local land registry office. Tell them what you want to do, they'll send you the forms you need and talk you through completing them.

Shane

Joined: 31 Oct 2005
Posts: 3467
Location: Doha. Is hot.

Posted: Wed Sep 07, 11 9:22 am Post subject:
Are there any inheritance tax issues? I'm not being awkward, I've just always wondered - I've always assumed that people would put their kids on their house deeds if it was a way to avoid death duty.

Behemoth

Joined: 01 Dec 2004
Posts: 19023
Location: Leeds

Posted: Wed Sep 07, 11 11:22 am Post subject:

Shane wrote:

Are there any inheritance tax issues? I'm not being awkward, I've just always wondered - I've always assumed that people would put their kids on their house deeds if it was a way to avoid death duty.

You can but you have to live for seven years and trust your kids not to evict you. You also have to hope they don't die as their kids will then be stuck with the inheritance tax and you're still in the house. Probably worth getting a solicitor involved, a bit of planning and may some insurance.

WandaBlue

Joined: 03 Feb 2011
Posts: 40
Location: Sanday, Orkney

Posted: Wed Sep 07, 11 11:13 pm Post subject:

Behemoth wrote:

Call your local land registry office. Tell them what you want to do, they'll send you the forms you need and talk you through completing them.

Totally agree. There will be costs involved as you'll need to find out if the land is already registered with them first of all. You will need to be able to identify the land with a good quality plan. Also, the children in question must be aged 18 or over or it isn't legal. Go to the Land Registry website for more info, make sure you only go to the site with .gov.uk in the web address. There are a lot of sites that will charge you more than the services actually cost. If the land is not already registered it really is in your best interest to refer to a solicitor as, without deeds, this is really complicated.

Guess where I used to work...

lowri

Joined: 18 Oct 2006
Posts: 1322
Location: ceredigion

Posted: Thu Sep 08, 11 6:36 am Post subject:
Wow, excellent info! Must get onto it all, I thought it might be fairly simple after all. We have the deeds, maps, etc ..... and it's only a couple of bits of sand!! But must get things done legally!

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