To improve the functionality of our website we use cookies to collect non-personal data. Guidance notes and a checklist can also be downloaded to accompany the AP1 form. Put simply, transferring property to your children in this way may be seen as an attempt to conceal property wealth to avoid paying for care. Head office: Quittance Legal Services, Northdown House, 11-21 Northdown Street, London, N1 9BN, Quittance is a registered trademark of Quittance Limited. Rated 4.6 out of 5 (47 reviews), We're open: Seek legal advice in relation to design and copyright protection. Leasehold typically applies to flats. This means you don't have any rights to the property. If you are transferring the part ownership of the property you need to download and complete the Registered Title part transfer (TP1) form. If you have experienced clinical or medical negligence, we can help. The cookies collect information in an anonymous form. Transfer leasing rights to a commercial sub-tenant. Disclaimer: Nothing on this website constitutes legal advice or gives rise to a solicitor/client relationship. A couple can give someone else the power to make decisions on their behalf. As it is a gift, unlike a transfer of equity, the husband would not receive any money from this transfer. Make arrangements for the drafting of a shareholder agreement. For higher-rate taxpayers, it is charged at 28%. Usually this is not a problem, but in theory, you could be in a vulnerable position. Ready to get moving? This is usually done to ensure they will not have to pay inheritance tax when you die. Seek advice on changing gender and gaining a gender recognition certificate. (i="hidden",o="visibilitychange",a="visibilityState"):"undefined"!=typeof document.msHidden? You might also need to consult with your mortgage lender if you have a mortgage on your property. Make an industrial deafness compensation claim. "),a=0;a