Joint owner with mum need legal advice please asap!

[jerrybee]

If you hold as joint tenants, you could sever the tenancy so it is converted to tenants in common - each party still owns half each, but in the event of either owner passing away, the will of the deceased dictate who gets the half share owned by the deceased.

That way, you could leave your half share in the house to your daughter in the event of your death. Something to think about??

Correct me if I'm wrong but it's not easy to change from JT to TIC and vice vercer when you have a loan. The banks make this difficult. I would love to hear that I'm wrong though as I'd like to change mine but have been told it's a lot of trouble.

 

[Terry_w]

Correct me if I'm wrong but it's not easy to change from JT to TIC and vice vercer when you have a loan. The banks make this difficult. I would love to hear that I'm wrong though as I'd like to change mine but have been told it's a lot of trouble.

No, its pretty easy. I don't even think it would be a reassessment.

 

[jerrybee]

No, its pretty easy. I don't even think it would be a reassessment.

Christ...alright I was misinformed. Time to change, thanks! Do I need to contact my mortgage broker or can I just do it directly?

 

[Terry_w]

Christ...alright I was misinformed. Time to change, thanks! Do I need to contact my mortgage broker or can I just do it directly?

You could do it directly. Just get the legal paperwork ready and contact your bank -or maybe contact your bank first and find out what they need.