Deed of Gift - 50/50
General Discussion

PJ
PJ
134 Thanks
482 Posts
2 years ago
0

Property owned outright - no mortgage - Sole ownership, considering Deed of Gift 50/50 split with spouse.
Implications, changes needed to cover Tenancy, Insurances, Deposit, notify IF any Agents involved etc.

What changes are required to ensure the AST Tenancy Agreement, Insurances, Agents if any these continue all interrupted without any surprises later ?

Notify Tenants or not as I believe although 50/50 we can still use the same sole name as landlord OR if you split 55 / 45 with the original Landlord as the majority owner is this a little easier to manage ?

Section 3
Section 48 - Still the same address

Deposit - No Change needed ? IF we can retain same person as the Landlord, no address change
IF ownership is changed, although from spouse to married couple IS there something I am missing at my peril ?

I hope this is a simple task, yet I would like to know the pitfalls before I jump !

Thank you.

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £99 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.