Adding new partner to proporty deeds

[quieterbadderbear]

My new partner is about to move in with me. He's going to sell his house and invest the proceeds in mine. We won't need to remortgage, and i'm not sure what I need to do to add him to the deeds of the house. Does it need to be done by a solicitor? Do i need to say anything to the mortgage company?

[quieterbadderbear]

Thanks - food for thought, and appreciated.

[Tiggeryoubastard]

You state you're over 40 but have no idea how mortgages/deeds work, want to add someone that you've been with six months to your house deeds and put some money in an account.

[quieterbadderbear]

Oh, just to add, we have known each other for a very long time, and I do know a lot about not only his finances, but also his character.

[YelloDraw]

Well, you'd never do anything if all you considered was how it might go wrong, would you?

And all your previous relationships have worked out happily ever after have they?

It is incredibly naive to think that nothing will go wrong. You should seek to protect yourself (and him too!) from financial mess should you separate.

Don't more 2nd marriages break up than stay together? That gives you about a 50/50 chance. The odds are not good enough to risk your house over.

[FreeFromHarm]

I would be very wary about doing this, seriously, especially if you do not know anything about his financials.
Whos idea was it to do this... his or yours ?
is his own his alone ?

[YelloDraw]

Also, joint finances and jointly owning a house are not indicators of love - it is possible ot have a very healthy relationship and keep your major financial investments separate.

[HeddaLettuce]

It doesn't matter whether its a good idea, its not possible! No need to debate it ;)

[FreeFromHarm]

I was thinking that Hedda to, a whole new mortgage app is needed , I agree

[BitOutOfPractice]

we have known each other for a very long time,

No you haven't, not as partners.

Stop. Wait. It is madness to hand over half of your asset to him now. There is no rush if you're going to be together forever.

I assume he's had relationships before that he thought would be forever. As have you no doubt.

Please, don't do this

[FreeFromHarm]

To put things into perspective , my xh is with a new partner she has a property and our former marital is being sold due to divorce ( dv) property is up for sale.... he will be moving in with her in her property I expect, little realising the house is negative equity, depts up to his eyeballs and owes me thousands and thousands.... see what I am saying you just never know..he has probably not disclosed for a reason..
I would seriously think twice at even moving him in let alone the aforementioned deeds !!

[PippaFawcett]

If you don't believe the posters on here, see a solicitor by yourself and discuss the numbers and see what they suggest.

[OhThatThingAgain]

Hedda is right, we had to do ours on a remortgage (the remortgage fee was minimal though the same lender, it may be different now). The solicitor worked out the share value documentation for us and then we remortgaged as tenants in common with different shares.

Please protect your assets.

[quieterbadderbear]

Blimey, there's some serious making up the back story going on here! Where did you get that he hasn't disclosed anything about his finances? Or that he's not taking as big a risk as I am, seeing he's selling his place and stepping of the housing ladder to move in with me? And of course we're going to get a legal agreement drawn up, clarifying our stakes in the property (but that wasn't what I asked).

[BitOutOfPractice]

I'm not making any back story up.

You've been together as partners for only 6 months.

Selling him half of your home now would be madness.

But you've clearly already decided so...

All you can do is paper your arse as much as possible and hope that your decision doesn't come and bite you in it

[BerylStreep]

And of course we're going to get a legal agreement drawn up, clarifying our stakes in the property (but that wasn't what I asked).

But in your OP you asked if you needed to see a solicitor, which suggests that you weren't contemplating it.

[quieterbadderbear]

Blimey. I asked if I needed to see a solicitor about getting his name on the deeds. I didn;t ask if I needed to see a solicitor about getting a legal agreement drawn up, or to get wills drawn up, or to get LPAs drawn up because, y'know, I knew about those.

Serioously, thanks for the general agreement that I do need to talk to a solicitor and to the mortgage company - very helpful.

[Floggingmolly]

Surely when you engaged this mythical solicitor to draw up the legal agreement; they'd have been the one to ask about the deeds, not randoms on the Internet?

[OhThatThingAgain]

Just put his name on the deeds then, why ask?

[quieterbadderbear]

Did you mean to be sorude, FloggingMolly? Only it really sounded quite aggressive.