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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10623
Experience:  Barrister 17 years experience
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I bought a small property, registered it in my daughters name

Customer Question

i bought a small property, registered it in my daughters name and rented it out,thought i was being a responsible parent and needed to provide a permanent base if we should need it not necessary as it turned out, my daughter is now married and has her own home.
so i want to transfer house back to my name, what do i need to do, and what are the pitfalls i might encounter/
Submitted: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year ago.
1. The most obvious pitfall is that you don't own the property. So you will need the agreement of your daughter to re-transfer the property to you. Whilst it is clear that there is a resulting trust back to you of the property, as you purchased it, you will still need the formalities completed by your daughter to give you back the property. For this reason I would recommend that you get a solicitor to do the conveyancing as it is important from your point of view that the legal position is properly explained to your daughter. Otherwise the re-transfer of the property to you could be set aside subsequently, if your daughter objected in years to come. So, you need a proper "paper trail" on the re-transfer, as the biggest pitfall is if yourself and your daughter fall out over it or in years to come. So for this reason, you need to ensure that the re-transfer is properly-legalled. 2. Please RATE the Answer as unless you RATE the Answer your Expert will receive none of the money you have paid the website so there is no incentive to answer any further questions.
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Customer: replied 1 year ago.
she has agreed and signed a declaration of trust so does any money have to change hands,
Customer: replied 1 year ago.
she has agreed and signed a declaration of trust, does any money have to be exchanged
Expert:  Buachaill replied 1 year ago.
3. No money needs to change hands. Essentially, in law, the property is held by your daughter on resulting trust for you as you advanced the monies to pay for the property. So you have always been the beneficial owner in law, even if your name wasn't registered on the title deeds or Land Registry.
Customer: replied 1 year ago.
Thank you very much
Expert:  Buachaill replied 1 year ago.
4. You are welcome.