Does anybody know if a title can be transferred into the names of children? I've looked on the website but can't find any information regarding this. Any help would be greatly appreciated.
Regards,
Dianne
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Does anybody know if a title can be transferred into the names of children? I've looked on the website but can't find any information regarding this. Any help would be greatly appreciated.
Regards,
Dianne
That's something I'd contact a lawyer/accountant about. It may be you can set up a family trust and put the house there. I don't know if you can just transfer ownership to anyone, without paying stamp duty. If you have a mortgage, I don't see a bank allowing minors to hold that, either.
As above. I think it would need to be in a family trust. A ft can be responsible for all monies in and out, assets, etc. There can be conditions on it etc, and is run rather like a company. Well worth the cost to set up, I just wish we would get around to doing the same!
There is no mortgage and paying stamp duty would be fine. It is the family home so no income is being produced, how does a family trust work?
Regards,
Dianne
You will need to speak to both a solicitor and an accountant as to setting up and managing a family trust.
How they run will be specific to your individual situation and you will need to get proper advice.