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Adding name on to Share of Freehold

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  • Adding name on to Share of Freehold

    Dear all,

    I currently own a flat with a share of freehold amongst three flats. One of the shareholder has today asked for his wife's name to be added on to the share of freehold for 'tax purpose'. Would agreeing to this be disadvantageous to me in any way? Am I essentially losing part of my share if the freehold was previously shared by 3 people, but now 4? Many thanks for all of your help!

    Lordy

  • #2
    Re: Adding name on to Share of Freehold

    Just make sure its his split that is shared

    Ged
    http://www.premierexpatmortgages.com
    [email protected]

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    • #3
      Re: Adding name on to Share of Freehold

      Hi.

      We are estate agents dealing in property sale day in and day out. We are not legal experts but have a degree of knowledge as this crops up from time to time.

      The freehold to the building will have a value, and can (if agreed by all parties) be sold. Also each freeholder will have a right to vote. So if money was to be spent or if a change to the building was wanted by a freeholder then there would probably have to be a vote.

      I do not see why a freeholder would ant his wife added for tax purposes (i am not a tax expert) so i would be wary of his intentions.

      As another poster has mentioned maybe get him to split his share with his wife so they have not got preferential voting rights / owning.

      Hope that helps!
      Jacks and Jones Estate Agents
      http://www.jacksandjones.co.uk

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