Deed of Trust Validity on Divorse

[Martintaxes]

Hi,
My wife and myself have four rental properties, and their mortgages will close out over the coming 5 years. All of the them have trust deeds associated with them for income tax reasons, with a 1% beneficial ownership for me and a 99% for my wife. This was done as I'm a high rate tax payer, and TD copies were submitted with Form 17 to HMRC at property purchase. I just wondered what the situation would be if we divorced as there was no specific clause in their to say it will revert back to 50/50 ownership, should the situation ever arise. We have no children or other family joint commitments.
Many thanks,
Martin.

[bd6759]

Your wife owns 99% of the properties. That is what the DoT says. Your wife can sell the properties and keep 99% of the proceeds if she wishes.

A DoT is not a tax wheeze. It is a deed stating who owns the property, and the tax consequences will follow the ownership.