Transfer from sole owner to tenants in common

[Engman]

My name only is on the deeds of our house and I would like to transfer this to 'tenants in common' with my wife. There is no mortgage on the property. Would stamp duty have to be paid?

[sue.adams@LA-Law.com]

No - other than in certain circumstances which do not apply here, there is no stamp duty where there is no consideration (ie it is a gift.
Sue Adams
solicitor/chartered tax advisor
Lester Aldridge
sue.adams@LA-Law.com

[robertmlaws]

.. and as she is your wife there is no inheritence tax implication. If you were not actually married then IHT might be payable if you die within 7 years.

but why are you going for "tenants in common" not "joint tenants"? There might be good reasons but you should be clear to yourselves what they are.

Robert
not a lawyer

[Wozz]

Is it clear as to the status of any beneficiaries of one partners will? Do they become Tenants in Common and so have a very real 'ownership' of the house, such as a right to access to all parts of the property etc?