Thanks for your question.
I hope I can assist you.
My response is based on the position that you own as joint tenants, namely that you both on the whole jointly as opposed to distinct separate shares as in the case of tenants in common. Therefore:
1. This is possible. You have a transfer from the two of you to you, if the intention is that you will own the property solely. You will no doubt do this for nil or nominal consideration which will not trigger any tax.
There may be future tax, I am thinking of inheritance tax but this depends on the value of the property, your estate and if any exemptions or reliefs are applicable. That advice is beyond the scope of this service and you need an accountant or estate planner to advise. On the face of it you can transfer the property into your sole name with no immediate taxes.
2. Under joint tenants, the property will pass to the surviving joint tenant automatically. So no need to make a will but it is always recommended that you do to deal with other assets and wishes. (if you have a tenants in common arrangement you both need wills otherwise on death of one owner it's share will pass by reference to the intestacy rules and may end up with a beneficiary who you did not want to inherit).
I hope my answer helps you. Do come back to me if you have any queries in respect of my answer. I am very happy to assist further.
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If you have a joint mortgage you will not be able to transfer into a sole name. It will no doubt be a term of the mortgage that the property is in both names, there might be a restriction protecting any dealing without their consent.
You can check the title for joint tenants / tenants in common. On title there will not be a restriction in part b the proprietorship register. If tenants in common there will be a restriction to say no disposition by a sole proprietor without an order of the court.
I hope this helps. If you have a pdf of title you can attach it to a pm to me and I will check it for you and confirm.
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Cheers. You are joint tenants. You lender has a restriction preventing dealing without consent.
No, rule of survivorship applies. However, consider the event if you both die simultaneously or in close proximity. A will will provide for what happens then. Otherwise on second death the intestacy rules will apply.
Thanks, ***** *****
You would need a solicitor to draft a will. Fees are not expensive for a standard will. Ring around a few local ones to get a feel for the price.
Drafting a will is beyond the scope of this website.