Hi, I am wondering if there is anyway to make my partner more secure regarding his entitlements to our family home? We are together over 12 years. We have a child. We bought our home from my family 5 years ago, and have lived in it as our sole residence since. We did not pay full price for it as I was gifted approx half as an inheritance by my mother. As we are not married my partners name did not go on the deeds as he would have been liable for either cgt or inheritance tax, can't remember which. Both our names are on the mortgage. He pays all the bills, yet technically has no ownership of the property. I would like to make his position more secure. Is there a way of putting his name on the deeds without incurring taxes? I have been told he would prob be able to inherit without taxes through Tenancy rights. But can any of these joint/common tenancy rights mean that I can get his name on the deeds now? It is the only property we own. Also is it enough for me to state in my will that the house goes to him? As it stands I presume our son inherits, with my partner as his legal guardian unless he challenges that under tenancy laws. I am already looking in to securing his position with our son by making him legal guardian. There are no ex husbands or wives to complicate this matter. Any advice would be great.
Putting Partner name on house, not married. implications?
- Thread starter ninak
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I would strongly recommend that you take advice on this issue from a good solicitor. There are a number of issues here which would be difficult to advise on without full knowledge of your circumstances. A "partner" as such is treated as a stranger in law, but based on circumstnaces etc there would be potential to grant him some property rights without incurring a CAT bill. The issue of your son also needs to be taken into account and as these are highly important to all of you they should be based on sound legal advice.
Brendan Burgess
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Hi Nina
As Brendan eile says, take professional advice.
As it's your home, you would not pay CGT on the disposal.
he would be liable to 1% stamp duty on the transfer.
I don't think you qualify for CAT exemption as you propose to continue living there. This is also discussed here
A good solicitor should be able to confirm all this.
Brendan
As Brendan eile says, take professional advice.
As it's your home, you would not pay CGT on the disposal.
he would be liable to 1% stamp duty on the transfer.
I don't think you qualify for CAT exemption as you propose to continue living there. This is also discussed here
A good solicitor should be able to confirm all this.
Brendan
My name only is on the site, I remember the solicitor saying that it would take three years before husbands name could be added.
by getting married I hadn't realised this would be an implication (not that it is a problem , just thought in case we all wiped out together the house would go to my side only). So is it true the in-laws could have a legal interest?
I didnt.....
Big difference - you're married!
Even though property is held in your sole name, you/your husband have the benefit of the Family Home Protection Act - the property within which a married couple ordinarily reside. You also have the benefit of the Family Law acts which give you very clear entitlements to assets not held jointly - on death and in the event of a break up.
In-laws won't figure in this unless they are somehow on title?
The three year period relates to Capital Acquisitions Tax - can we assume that your parents gave you a site? So, no CAT payable. BUT, if they had given it to you both, hubby would be regarded as a stranger-in-blood and would have been liable for CAT on his half.
mf
Hi Nina,
In the olden days people got married because they couldn't live together or have a family without getting married.
The reason marriage still exists for a lot of non-religious, non-conformist types (me included) is exactly this sort of situation.
While it is of course a personal choice whether to get married, you cannot avail of the rights and responsibilities which marriage affords. It is not possible to say "we are life partners and should be exempt from the CAT implications like a married couple would be" without also accepting the responsibility of maintaining each other should it all go wrong.
I would also caution, however, that even if you do decide to get legally hitched then you should still get his name on the deeds - I know of one case where the husband died intestate with the family home in his name only and the 18-year-old forced a sale of the family home to get his legal right share.
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Thanks Mrs Vimes. I didn't realise that even if married I would have to get his name on the deeds. Interesting to know about that case with the 18 year old challenging fathers right to home!
Regarding accepting the responsibility of maintaining each other in the event of a break up, the new legislation regarding rights of co-habiting couples has brought about the situation that in cases such as ours we are legally obliged to maintain each other and children as a married couple would in the event of a break up. If we have the same legal obligations to provide for each other, why not expect to avoid CAT in this case like a married couple would? Though from what I am learning here and reading up myself that does not seem possible yet.
Thanks again for the feedback.
Regarding accepting the responsibility of maintaining each other in the event of a break up, the new legislation regarding rights of co-habiting couples has brought about the situation that in cases such as ours we are legally obliged to maintain each other and children as a married couple would in the event of a break up. If we have the same legal obligations to provide for each other, why not expect to avoid CAT in this case like a married couple would? Though from what I am learning here and reading up myself that does not seem possible yet.
Thanks again for the feedback.
Think some more about that.
This property question suggests that there is a need of some sort. There might be other respects in which you might in the future discover further needs: for example, recognition as next of kin.
Wanting is a different matter.
True,
its at the end of the family farm so to speak but on the a different road and just felt if anything every happened to us as a family unit that we all died etc, its my family that would have everything, as inlaws would be townies with no love of the land, would they be entitled to anything of the family home.