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Gifting share of house to 3rd daughter
Gifting share of house to 3rd daughter
Posted
Fri, 29 May 2026 20:08:02 GMT
by
Michael Pearce
Two of my daughters and I purchased a property last year as tenants in common equal shares (1/3). No mortgage. My third daughter was buying her own home as a first time buyer so for Stamp Duty reasons I had her share. I now wish to transfer my 1/3 to her as a gift, no money involved. On the TR1 do I only include my name as the Transferor and only daughter 3 as Transferee OR do I need to include daughters 1 & 2 somehow? Also I believe I need an ID1 but is any formal id needed for daughter 3? Thanks in advance for any advice
Posted
Sat, 30 May 2026 05:08:23 GMT
by
Adam Hookway
Michael - the current registered owners are the Transferors and the legal ownership is always transferred as a whole. ID1/ID3 are needed for the Transferors and Transferees
Posted
Tue, 02 Jun 2026 19:25:17 GMT
by
Michael Pearce
Thanks for the reply Adam. Daughter1 & Daughter2 are then both Transferors & Transferees on the TR1? Current registered owners are Daughter1, Daughter2 & myself (1/3 each) then after transfer, owners are to be Daughter1, Daughter2 & Daughter3 (1/3 each). It seems strange that Daughter1 & Daughter2 are transferring to themselves? Or am I misunderstanding?
Posted
Wed, 03 Jun 2026 06:15:52 GMT
by
Adam Hookway
Michael - a transfer of the legal ownership can only ever be as a whole. So if you have yourself and 2 daughters as the current registered owners, and you are transferring to say yourself and just one of the daughters, the Transferors are all three of you. The Transferees are just you and the single daughter. In such scenarios there is always someone transferring to themselves as a result but that's because you are transferring the whole and not a 'share' of the legal ownership. Such transfers can and often do alter the 'share' of the beneficial ownership held. The beneficial ownership is not specifically registered for example a third each. You now owning two thirds and the other daughter a third is fine but that relates to your beneficial shares and not the legal ownership. I would strongly recommend that you all seek legal advice to understand that position going forward and what that means and what happens to the legal ownership and your 'shares' in the future say for example your circumstances change
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