inheritance tax

[johnMIC]

Hi all
I like to change my hse deeds from "joint tenancy" yo "Tenants in common" with my wife; Does anybody has any information/experience on the subject; any info greadly appreciated
THanks johnmic

 

[masona]

I personally would use a solicitor as they are upto date with law & order.Shouldn't cost a lot,but get a quote first as life is too complicated.

Now altogether lads 1,2,3...." There maybe troubles aheaaaaaad !"

 

[glocko]

As far as I know, joint tenants jointly own 100% of the property. Tenants in common own 50% of the property each.
As the last reply you need to get legal advice (Cher-ching!!!) Possibly cheaper to consult Citizen Advice bureau first.

 

[MANDATE]

I changed my deeds a few years ago, i recall obtaining the forms from a London address and after completing them I popped along to the LAND REGISTRY OFFICE at Lytham St Annes (30 miles)where they checked the form and took my cheque ( I think about £45 ). The action was completed about four weeks later.
I had to have a witness to my signature and the staff there was not allowed to participate, but I did get a volunteer.
No solicitor required.
Just to clarify a point , On death the property passes to the surviving joint tenant (Joint tenancy) but not in the case of 'tenants in common'

 

[johnMIC]

thanks all specially Mandate; tried solicitor who suggested i could do it myself [is that easy];{there are ohnest ones out there}
johnmic