Yes! Property Investors Are The Victims!
High value tax-payers must realize that signing more than fifty percent of ownership to a spouse or partner will make them give up all financial rights to income generated by that share of the property and any funds arising from the sale or transfer.
We have learned that signing the declaration is not compulsory but failing to file the form could also spark an inquiry over joint ownership of an investment property from the tax man. Necessary regulations and following recommendations can make the tedious process of property acquisition even more tedious, but it is also a double edged sword as it serves as a form of protection should the couples relationship decline.
Verify With Your Solicitor What Details He Is Recording On The Land Registry
Be Extra Cautious When It Comes To Property Purchase Transactions!
The Law Societys' current land law committee chairman, Mr.Jonathan Smithers says that the note would directly solicit the practical implications of statements made in recent cases so that their clients can continue to receive the best advice possible.
We discovered that in both the court cases Stack v Dowden  UKHL 17 and Jones v Kernott  UKSC 53 joint owners disagreed on the details of property ownership. We believe that by following the guidelines and recommendations, one can get through such problems and hold property in a way that wont cause sleepless nights!
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