Changing From Joint Tenants To Tenants In Common

[rosyposy]

Has anyone done this themselves please? Is it possible and is it complicated? If not, about how much would it cost to involve a solicitor? We have done P.O.A ourselves and had them registered so pleased with that, but would like any advice about how to go about the above.

[hc4361]

Are all the parties in agreement?

[rosyposy]

Yes hc, just me and Mr Posy, we are thinking about making new wills.

[hc4361]

You don't need a solicitor and it should cost nothing.

First you need a Notice of Severance of Joint Tenancy which must be signed by both of you. There is a template here that you can use. It does not have to be 50/50 - it can be whatever you have agreed.
http://www.landregistryservices.com/samples/england_and_wales/eng_notice_of_severance.pdf

You then need to complete a Form SEV, downloadable here:
https://www.gov.uk/government/publications/form-a-restriction-application-to-enter-sev

Send both to:
Citizen Centre
Land Registry Wales Office
Tŷ Cwm Tawe
Phoenix Way
Llansamlet
Swansea
SA7 9FQ

If you live in Scotland or Northern Ireland this will not apply.

[rosyposy]

Thank you very much for that reply, hc, can't believe it won't 'costa lot' as most things do these days. It seems pretty straight forward too. Now -where will I find a 'willmaker' or a reasonably priced solicitor ;0)
Thanks again -rosy

[hc4361]

I have always found the Land Registry to be very helpful, over the phone and if I visit in person. They can't and won't answer questions like 'should I sever the joint tenancy' but will tell you what forms and documents you need to do so.

I assume you are aware of the implications of owning the house as tenants in common.

[rosyposy]

We have decided to make seperate wills so we can leave everything to our grown up children, including the house, which would be left to the survivor for life and on death to the children, which we couldn't do if we stayed as joint tenants. Is that what you mean by implications hc or is there something else? I know we will have to use a solicitor for this as we don't know enough to do it ourselves.

[hc4361]

Yes, that's about it.

Of course you could leave it as a joint tenancy and each of you agree to draw up a new will in event of the other's death leaving the property to the children. If you intend leaving the house to them in equal shares that is what would happen if you died intestate, anyway.

[rosyposy]

O.K. that is something else to ponder over, thank you again for your very helpful replies and information -cheers rosy

[Peter Pedant]

// If you intend leaving the house to them in equal shares that is what would happen if you died intestate, anyway. //

I think everyone agrees that if you have a house you should draw up a will

When you die at present intestate - the house will go to your husband.
If you sever the jointure when you die intestate the first £250k will go to your husband ( rules changed Oct 2014 - so cant be sure )

If BOTH die ( er sequentially I hope ) intestate it will go the children BUT in the mean time between the two deaths the survivor is free to draw up a will and leave it to the dogs home. [Happens quite a lot see: who do you think you are]

You should draw up wills ( not mirror wills but wills which take into account the death of the first spouse )

A jointure can be severed by any document EXCEPT a will

[Peter Pedant]

Oh and final point
your house is worth an average £250k ?

and people seriously agonise about buying a will - cost £40 - £1000
I have no idea why

[rosyposy]

After getting very helpful advice from hc4361 I have just received the 'Completion of registration' form back' but I am concerned that it just states that we are 'Registered proprietors' on it. I can't find anything to say we are now Tenants in common'. It also says there are no other documents to send to you. Can anyone tell me if this is the norm, I thought it would be a bit more explicit than that and am wondering if I have done something wrong? TIA rosy

[rosyposy]

Are you around hc4361? Or has anyone any idea as to the answer to my last question on this thread please :0(

[Buenchico]

Invest £3 to check what's actually on the Land Registry's files by downloading a copy of the title register:
https://www.gov.uk/search-property-information-land-registry

[rosyposy]

Thank you Chris I will do that -rosy