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Joint tennants etc - does it matter if you are married and property only in DH name?

(4 Posts)
Gobbolinocat Tue 07-Feb-17 19:01:25

If he dies that is? Do I need to get myself on the property or will it come to me anyway if its in a will ( not drawn up yet but soon to be)

As an aside - is it worth being on mortgage anyway and would they let me on I am a sahm at the moment

EnormousTiger Tue 07-Feb-17 21:45:23

1. You have to pay stamp duty if there is a transfer to joint names if there is a mortgage so it can be very expensive indeed so do take tax advice.
2. Does he have a will? If not you should both make one. Assuming you make a will and leave everythnig to each other yes it will come to you.
3. At the very least register your right to live in the matrimonil home if this is your home = - you can do this at the Land Registry and means if he is a lying so and so he cannot sell the house from right under your nose even if you are not on the deeds as joint owner. I am assuming you are married. You can do this step tomorrow by the way very easily.

4. If he dies it is much simpler if the house is in joint names as joint tenants as it automatically comes to you and much quicker than if this is not done but the stamp duty cost may not be worth it so step 3 may be best.

5. If you are not married things are totally different and more important to put it in joint names to protect you if unmarried. If married and you divorce assets are divided and does not matter whose name they are in.

Gobbolinocat Wed 08-Feb-17 10:01:11

Enormous wow thank you for such clear comprehensive information.

We are married - all good at the moment but it hangs over me, that should something happen to him, I may face problems to stay in the house as its not in my name.

If we do not do joint tennants because of the stamp duty cost. and he dies will I still have to pay tax or duty because I was not named as joint tennant in the event of death?

EnormousTiger Wed 08-Feb-17 13:10:31

No, you won't. Don't worry. You would inherit from him (either under his will or if no will on intestacy rules - see latter below) and there is no stamp duty or inheritance tax I am pretty certain.

You can own a house either as both registered owners as 1. joint tenants or 2. tenants in common (English law). My father changes it from joint tenants to TC when he feared my mother might die second and leave her half not to the children but to a charity (although she would never have done that) so he wanted to be free to leave his half of the house to us the adult children - hence tenants in common. Both forms are having both in the couple on the deeds but it's something to think about if you do get put on the deeds.

If you plan to move in a few years' time it is probably best for now just to register your interest but not pay stamp duty and do a transfer and then when you move at that point get yourself put on the deeds or when the mortgage is paid off.

By the way if you are in England (not Scotland) and he dies without a will this is who inherits:

"The husband, wife or civil partner keeps all the assets (including property), up to £250,000, and all the personal possessions, whatever their value.
The remainder of the estate will be shared as follows:
the husband, wife or civil partner gets an absolute interest in half of the remainder
the other half is then divided equally between the surviving children

If a son or daughter (or other child where the deceased had a parental role) has already died, their children will inherit in their place."

So if your house is worth over £250k or may be worth that by the time you die wich could be in 40 years' time and you want it and not the children if he dies make sure you both do wills now leaving everything to each other.

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