Share the ownership of your house with your partner with a Deed of
Gift
If you are a 'Sole Owner' you may wish to consider gifting a share of your home to your partner using a 'Deed of Gift'.
We will be pleased to
discuss the pros and cons of this option to ensure that you do not fall
foul of the Community Care Act.
Most of the property
gifting of property we complete for our clients usually involves one spouse giving
half of their property to the other spouse. This is mostly because the
property was set up in one name only in the 1970s and before when only
one earner’s name went on the property’s mortgage
and thus one name as owner of the property. This gifting puts the
couple’s home rightfully into both names.
You need to consider carefully the consequences of this
gift including all the advantages and potential disadvantages.
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