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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15946
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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As our daughters and granddaughter are on the original deed,

Resolved Question:

As our daughters and granddaughter are on the original deed, will we need to draw up another deed when we put our names on the Land Registry?
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
In some of the cases I have seen, one name is ***** ***** title deeds and a deed of trust has all the names of those with an interest in the property. In others, four names are ***** ***** title deed which is the maximum and all the names of those with an interest in the property are in the deed of trust.
Customer: replied 1 year ago.
In our case, the five names are ***** ***** Declaration of trust and only my name, as executor, is on the Land registry. So am I right that if my husband and I change the land registry into our joint names, we can then claim. CGT and the original Declaration is still legal or will we need a new Declaration of trust. Our daughters names will the be registered on the Land Registry when they buy our share of the property?
Expert:  TonyTax replied 1 year ago.
If you name is ***** ***** the deeds as an executor, you are not on as a part owner. As you are on the deed of trust it should not matter but I'd get your name on the deed other than as executor.
Customer: replied 1 year ago.
I am also on the Deed. Together with my husband we own seventy six percent which we are selling to to our daughters and granddaughter. We are all agreed on price. They do not need a mortgage. We ar just concerned as to weather we need another declaration of will the first one suffice
Expert:  TonyTax replied 1 year ago.
If you are all on the deed as the original inheritors that should be enough. All that's happening is that two of you are selling your shares to the other part owners.
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Customer: replied 1 year ago.
Thank you very much. You have been most patient and helpful
Expert:  TonyTax replied 1 year ago.
Thanks.