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  • Tax

    Putting 99% or property in wifes name

    Hi,

    I know this has been somewhat covered before, but am trying to do this myself so would appreictate any responses from people who have been in the same boat:

    Currently my rental property is in my name - both on deeds and mortgage.

    I want to put 99% in wifes name as she will be stopping work for a few years next month so want most of the taxable earnings to go in her name:

    I have printed off a declaration of trust template and filled it in.

    I have completed form 17, and form RX1 under sction A (applicant is registered proprieter).

    My belief is I need to send the deed of trust along with form 17 to my tax office.

    Then I need to send rx1 to land regisrty - not sure of address?

    Is that all I need to do?

    Will I have an issues when remortgaging when my curent btl deal expires as property will now be in two names?

    Any advices and comments appreciated as I think I'm nearly there but just need some clarification and confirmation. Also if anyone has an example of a completed rx1 form that would be helpful.

    Thnkas in advance!

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    AIUI Form 17 / RX1 will achieve the result you want only if the property is jointly owned

    As the property is owned just by you, it isn't so straightforward

    There have been a couple of threads here about it previously. I can't find one of the ones I want to link to just now, but here is one of the others

    https://www.propertytribes.com/deed-decla...24512.html



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