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Harris
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 2722
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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My partner transferred a third of one of his properties

Customer Question

Hello. My partner transferred a third of one of his properties (that he rents out) to me, two years ago. I never received any income or paid taxes for it during this time.
We have just separated and he wants me to sign a transfer back to him, without exchange of money.
Do I have any money rights on that property?
As we were not married I know I don't get anything after the separation otherwise.
Thank you
Submitted: 1 year ago.
Category: Family Law
Expert:  Harris replied 1 year ago.
Hi, thank you for your question. What was the intention of the transfer of the property to you? Was there any formal agreement or deed of trust prepared regarding the transfer and is your name definitely on the title of the property?
Customer: replied 1 year ago.
Yes, my name is ***** ***** title of the property. It was a formal and signed agreement.
The purpose was for him to use the yearly tax allowance.
Expert:  Harris replied 1 year ago.
Thank you. As your name is ***** ***** property you have a legal interest in the property, and technically you should be entitled to the appropriate share of the equity of the property (1/3) when it is sold. You will also have rights to occupy the property unless there is a court order excluding you. If he wishes to contest your legal interest in the property he will need to pursue a court application regarding this.
Customer: replied 1 year ago.
He wants me to sign the transfer back to him without exchange of money.
He says I couldn't win on court because I didn't pay anything myself as it was his money not mine. He is not thinking of selling the house because he rents it out.
Expert:  Harris replied 1 year ago.
The court will look at the reasons and intention for it transferring when deciding whether your share should be transferred to him.
Customer: replied 1 year ago.
I see. So if we go to court I might not win. Just wondering whether the costs and efforts are worth trying or not.
Expert:  Harris replied 1 year ago.
How much is the equity in the property?
Customer: replied 1 year ago.
I don't have that information I'm afraid. I know he's still paying the mortgage. He's got other 29 properties also in the same mortgage. He bought it around 15 years ago or perhaps more.
Expert:  Harris replied 1 year ago.
Thanks. I will not be able to tell you whether it will be worthwhile coats wise without details of thr equity, but if it goes to court and it fully contested, legal fees will be in the region of at least £5000 and above for each of you
Customer: replied 1 year ago.
House narket value is around £70K. He bought it at £15K. I will try to find out more if I can.
Thank you for the info about costs. It helps to know.
Would I need to work with a solicitor or a lawyer? That will add to the costs no doubt.
Expert:  Harris replied 1 year ago.
The legal fees estimate is for solicitor and/or barristers to represent you and advise you in the proceedings. Given the complexities of the matter it would be best if a lawyer assists you
Expert:  Harris replied 1 year ago.
Hi, this question remains open. If you found my information provided helpful please could you rate my response positively as I will not be credited for my response without a positive rating.
Harris and other Family Law Specialists are ready to help you
Customer: replied 1 year ago.
Final point, is it by selling the property the only way of getting my part? or an agreement could be decided to receive payment for my part from my ex-partner?
Thank you
Expert:  Harris replied 1 year ago.
Yes, agreement can be reached where he compensates you for transferring your share to him
Customer: replied 1 year ago.
Is it possible for me to find out tax payments made on my name for that property? would his accountant know, could I ask him?
Expert:  Harris replied 1 year ago.
What tax payments would have been made?
Customer: replied 1 year ago.
I assume he must have made payments on my behalf for that property?
Customer: replied 1 year ago.
income tax payments, mortgages etc
Expert:  Harris replied 1 year ago.
The mortgage will be registered either in his sole name - or in joint names (although if it is joint you can obtain the details from the mortgage company). There is no tax that you would be liable for. As he is renting it out, if you are not receiving any income from the property you will not be liable for any tax.
Customer: replied 1 year ago.
ok thanks
Expert:  Harris replied 1 year ago.
No worries, hope it goes well

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