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Buying half of partner's house

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  • 09-11-2014 12:46pm
    #1
    blonde dublin
    Registered Users Posts: 16 ✭


    My partner wants to add my name to their property deeds and mortgage. I will pay for half of the house. Does anyone know how much this will cost and how we go about it?


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    #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,712 Mod ✭✭✭✭Henry Ford III


    Consult a solicitor.


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    #3
    Victor
    Registered Users Posts: 78,423 ✭✭✭✭Victor


    blonde dublin wrote: »
    My partner wants to add my name to their property deeds and mortgage. I will pay for half of the house. Does anyone know how much this will cost and how we go about it?
    Primarily legal expenses and stamp duty. You will each need a solicitor, as there is a presumption that one spouse can unfairly influence the other. If you are married, there may be a reduced rate of stamp duty. It may make sense for your husband o use the solicitor that he used when buying the property.

    Are you certain you want to do this? If married, you could just gift the money (tax free and the Family Home Protection Act protects you interest in the house to a certain degree. However, you wouldn't have a permanent interest in the property, especially against third parties.


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    #4
    blonde dublin
    Registered Users Posts: 16 ✭blonde dublin


    Thanks Victor and Henry that's very helpful. We're not married so the gifting is not an option. How come we would have to pay stamp duty? Do either of you know the name of any good solicitors in this area?

    Thanks again


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    #5
    Victor
    Registered Users Posts: 78,423 ✭✭✭✭Victor


    blonde dublin wrote: »
    How come we would have to pay stamp duty?
    Stamp duty is paid on almost all property transfers. If I'm correct, you would pay 1% of the value of half the property.
    Do either of you know the name of any good solicitors in this area?
    Don't take recommendations from people on the internet. Consider someone that friends, family or colleagues have used. Make sure they have experience of both conveyancing and the relationship issues. A local solicitor or one having a connection to the area may be useful as they will know the in and out.


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    #6
    the_syco
    Registered Users Posts: 37,301 ✭✭✭✭the_syco


    blonde dublin wrote: »
    Do either of you know the name of any good solicitors in this area?
    As Victor has said, "consider someone that friends, family or colleagues have used", as otherwise it could be a solicitor posting about good he is on an internet forum.


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    #7
    blonde dublin
    Registered Users Posts: 16 ✭blonde dublin


    Thanks Victor and syco I think that's very good advise, I will ask around..


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    #8
    Mrs OBumble
    Registered Users Posts: 25,966 ✭✭✭✭Mrs OBumble


    blonde dublin wrote: »
    We're not married so the gifting is not an option.

    A registry office marriage costs a couple of hundred, and you need to apply three months in advance. Could save you a lot of cash.

    If you're not ready to get legally married, I would question whether joint property ownership is a good idea.

    Also, be aware of the recent legislation changes that affect property rights when a relationship ends, even if you aren't married. It may well be that you have the relevant protections already, due to these.

    Seriously - independent legal advice on both the property and relationship law issues is highly recommended.


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