transfer of House Deeds

[chairboy18]

I paid a third share in my parents house when brought from the council 6 years ago. My name was not put on the deeds at the time as it was my parents right to buy. We now wish to have my name added to the deeds so that the third becomes officially mine. My father passed away last year so the remainder of the house is now my mothers. How do we go about changing this. She has a small mortgage on the property, my third was paid for in cash.

[Maude]

If you can do a bit of form filling and write a letter you can do it yourself, otherwise it's a solicitor, I'm afraid. If you would like me to tell you how to do it yourself, please confirm that you in fact wish to hold the property in shares 2/3rds mother and 1/3rd you and not 50/50, and, if so, please also say whether you understand the legality "tenants in common".

[chairboy18]

Yes the property would be 2/3rds my mother 1/3rd myself. She is resident in the property, I am not. I do not understand the legality of tenants in common but I will look up what I can. Any pointers would be much appreciated.

[Maude]

There are only two forms of co-ownership available (1) joint tenancy and (2) tenancy in common. The essence of (1) is that upon the death of a co-owner the property automatically passes to the survivor (there are no shares but between two people ownership is deemed to be 50/50), and the essence of (2) is that the property can be owned in stated shares. These shares can be willed to whomsoever each party wishes. The problem for you to consider is that should you go first those to whom you have willed your share (if it is not your mother) could force a sale of the property to realise their inheritance. This may not be acceptable to you and/or mother if the intention is that she should remain in the property until she is no longer able to do so. If this is perceived as a problem, then the only other way is to place the property in a trust.

[Maude]

Last night I dealt with the matter as if for co-ownership. However, if co-ownership is not important to you then a document can be drawn between your mother and you saying in essence that repayment of the money you loaned to both parents will be one third of the nett value of the property at the death of your mother. This can be registered on the Land Certificate as a second charge on the property (after the mortgage) and the benefit can be willed any way you wish without adversely affecting your mother. A solicitor is required (about �200) and the registry fee is between �60 and �100 depending on present day value.