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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3840
Experience:  Solicitors 2 years plus PQE
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My son and I share ownership of our home but would now like

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My son and I share ownership of our home but would now like to sell and buy our own properties. My son is finding it impossible to extend his mortgage because I am on the deeds. Is there a way to be taken off the deeds.
Thank you for your question and welcome.
My name is ***** ***** I will assist you.
Have you offered to the bank either:
1. A personal guarantee or
2. Your share of the property as security?
Kind regards
Customer: replied 3 years ago.

Thank you for your answer, no we have not thought of that. But I wonder why the bank has not suggested that. However it is something to investigate.

Could you tell me what the situation would be, regards ***** ***** should either one of us died. Our property has been valued at £360,000, that would be £180,000 each. I assumed it would not be liable for inheritance tax, but my Son wonders whether it woud be assessed on the total value.

Hi, Thank you. Inheritance tax would only be payable if the value of the deceased party's whole estate is greater than £325,000. You would only pay it on their actual share in property. If there is no evidence of the split (e.g a deed of trust) then it is assumed to be 50/50.

I look forward to hearing from you. Kind regards AJ

Alex J. and other Law Specialists are ready to help you
Customer: replied 3 years ago.

Many thanks, ***** ***** have more questions I would like to ask, but need to talk to my Son. i will come back to you when I am abke to, may not be until tomorrow.


Margaret XXXXXX

Thank you.
No problem. I probably will not be able to login tomorrow, so please do not be concerned if you do not hear from me until Friday.
Kind regards