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Can I put my share in my kids names

  • lawler777
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6 years 2 months ago #439029 by lawler777
Can I put my share in my kids names was created by lawler777
I have separated from my partner and have 3 grown up kids over 18. I want to change the way the house is owned so they become part owners of my 50. % of the house....... How do I do this and what needs to be done.......any help would be appreciated including steps and potential steps

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6 years 2 months ago #439031 by Fiona
Replied by Fiona on topic Re:Can I put my share in my kids names
Under family law when you are married the former matrimonial home is a family asset to be shared. If you change the way the property is owned the courts take a dim view of disposing of assets to prevent/reduce a spouse''s financial claims and have the power to set aside the disposal or add the value back when calculating sharing any other assets.

If you weren''t married it''s another ball game and property law applies.

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6 years 2 months ago #439032 by lawler777
Replied by lawler777 on topic Re:Can I put my share in my kids names
She has already taken steps on how we own the house to tennants in common and all I want is to give my share of the house to the kids .....I''m not interested in any financial gain

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6 years 2 months ago #439036 by Fiona
Replied by Fiona on topic Re:Can I put my share in my kids names
Were you married? If so it doesn''t matter whose name is on the deeds,. The former family home is a matrimonial asset to be shared according to a check list of factors in s25 Matrimonial Causes Act 1973, not necessarily 50:50. Until there is a divorce settlement you won''t know what your interest in the property is and it could be very expensive sorting it out if you transfer your interest in the property before the finances have been finalised on divorce.

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6 years 2 months ago #439038 by lawler777
Replied by lawler777 on topic Re:Can I put my share in my kids names
No marriage

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6 years 2 months ago #439077 by dukey
Replied by dukey on topic Re:Can I put my share in my kids names
It''s much the same as Fiona describes even if not married , you cannot dispose of a disputed asset.

If there is no dispute and you have already divided your assets you are free to do as you wish, all you need is a solicitor to form a trust.

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