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Andrew
Andrew, Solicitor
Category: Law
Satisfied Customers: 129
Experience:  LLB (Hons)
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There, My daughter would like to buy a property in Richmond

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Hi! there,
JA: Where is this? It matters because laws vary by location.
Customer: My daughter would like to buy a property in Richmond with her boy friend to live after a marrage.
JA: What steps have been taken so far?
Customer: Looking for a house and yesterday seen one but not satisfied bur keep searching. Question is if she contribute 90% of total cost and her fiancee 10%. Title deed could shows percentage of the property?
JA: Anything else you want the Lawyer to know before I connect you?
Customer: Majority of Money (1.1 mil) be from me and it will be gift from me. Looking property around 1.4mil.

Hi, the Transfer document, which is signed by the Seller and your daughter/boyfriend does include a panel where you state what share each buyer is going to have in the property.

So, in your daughter's case, she will just need to instruct her Solicitor that she is to have 90% and her boyfriend is to have 10%.

This Transfer document is then registered at the Land Registry and it is evidence as to what share each party owns so as to avoid any argument at a later date.

I hope this assists and if so, I would be grateful if you could leave feedback with 4 or 5 stars at the top of your screen, before you leave the site today.

Kind Regards

Andrew

Customer: replied 1 year ago.
5 starrs

Thanks, ***** ***** you look at the top of your screen and you can leave formal feedback.

Many thanks Andrew

Andrew and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Hi! Andrew, it is useful. is it for London, England Law ?
Customer: replied 1 year ago.
Are you able to answer me the question from me now?

Hi, thanks. Please feel free to ask a follow up question.

Andrew

Customer: replied 1 year ago.
Hi! Just double check- is your answer applied to English law United Kingdom?

Hi, I am a Solicitor based in England.

Andrew

Customer: replied 1 year ago.
Are you also do inheritance law in uk?

Hi, I am a property Solicitor so if you have a question about Inheritance tax, you are best to post it as a new question. If your further question relates to your original question I will of course be happy to answer it.

Andrew

Customer: replied 1 year ago.
Ok understood. One more thing- for gifting money to children, do I need any particular form and need to be rotarised ? Or just agreement between me and children? For future evidence regarding HMRC.

Hi, you don't need anything formally documented or witnessed by a Solicitor or Notary Public. You and your daughter just need to keep a note of any gift in your own records in case the gift becomes part of your Estate for IHT purposes (if you were to die within 7 years of making the gift, the sum or a percentage of it would be classed as part of your Estate).

Kind Regards

Andrew

Customer: replied 1 year ago.
Very clear answers. I hope I can contact you as the situation develops.
Thanks,

Please do. Many thanks

Andrew

Customer: replied 1 year ago.
Further to your good&clear advice yesterday, for a better understanding for myself , would you give me your advice that when we provide a value % split at point of purchase.
Assuming this might be in region of 85% & 15% is this split, recorded on purchase ( Land Registry?-is this correct?) and would the same split apply upon sale in the future? Would that apply to any circumstances and regardless of the relationship between the two parties at time of sale?
I appreciate your advice.
Regards,

Hi, thanks but can you please re-post this as a new question as I only get credit once for answering a question.

Kind Regards

Andrew

Customer: replied 1 year ago.
I will but I need to start from scratch? and also you gonna answer? why don't you provide your bank detail for me to pay bank transfer?
Customer: replied 1 year ago.
also, i thought 7 days trial include unlimited questions. am I wrong? I am happy to pay again but would you make it clear? Many thanks.
Customer: replied 1 year ago.
I have sent my question through my New question.
Customer: replied 1 year ago.
I paid.
Thanks
Customer: replied 1 year ago.
Hello Andrew, Are you there?