All seems too easy? Transfer of property.

[40andoverit]

I am in Scotland, I have lived with my partner for 15 years, 2 children together. the house and mortgage was in his name. He has just paid the mortgage off after receiving an inheritance. We would like my name added to the title deeds so that I own 50% of the property.
My question is that as he is giving me 50% of a property that he owns would I not be liable for some kind of tax? I was telling a friend about it and she thought I would have to pay capital gains tax???? If so is there a way around it like getting married first before changing the deeds?
The property is worth about £400000.

Any advice appreciated.

Capital gains tax is not payable on your home. It’s also a tax when you sell something. Eg a second home. You haven’t sold anything and this is, presumably, your only property. However if you really want security, both of you should make a will and get married! Marriage is still the best way to protect you and Dc. Your partner is being very decent but try and think about protecting all of your assets and Dc by marriage.

Thank you for answering, I’ve emailed the lawyer and waiting to hear back when they are available for an appointment to discuss writing our wills and POA. We will be getting married at some point, it’s always been on the back burner due to different life events and financial issues, However I’m now seriously considering a quick registry office wedding just the two of us with the kids so it’s done and we are more protected if anything were to happen.

@40andoverit Now is a great time to sort it all out. Good luck.