Change Of Deeds

[kazz28]

Does anyone know how I would go about changing the deeds of my property. I purchased it from the council over 3yrs ago via the right to buy scheme, but now wish to give the property to my sister and her husband? Do I need to inform the council of the change of owership beforehand as they still own the freehold.

[Ethel]

Is there a mortgage on the property?

If not, you need legal advice. Stamp duty at current market value may be payable, for example.

[kazz28]

Yes, I have a mortgage in my name and my sister is the named guarantor and has been paying the mortgage on my behalf since the first payment. Currently looking into transfering this mortgage over to her name along with her husbands. There won't be any stamp duty as the price is below the limit.
Thanks.

[Nether Edge]

1. No SDLT (stamp duty land tax, which replaced stamp duty >3 yrs ago) is payable on a gift.
2. You should use a solictor to transfer the property which, I guess, is a leasehold flat or maisonette.
3. On completion, solicitor will serve Council with Notice of Transfer. That provides new leaseholders' identity and enables Council to send bills (ground rent @ �10 + service charge) to correct people/address.