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I own a house in my sole name and want to gift half of it to my wife. It is debt free. For �40 I can do this online at the land registry using forms TR1 and AP1. I also need to notify the inland revenue. Is it as simple as that or do I have to pay my solictor �250 to draw up a deed of gift? Any advice out there?
thanks
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For more on marking an answer as the "Best Answer", please visit our FAQ.So long as there is no mortgage or borrowing against the property you can do it yourself. Obtain the Revenue form from 0845 6030135 and submit to the LR. If no money is changing hands there is no Stamp Duty. Certain signatures on the forms must be "as a deed". If you are not familiar with this click this link
http://www.landreg.gov.uk/publications/?pubtype=35
and read 3.2 of LRPG 008. Submit all to your local District Land Registry Office - they will guide you through if you make a mistake.