NigelB

Me and my spouse own a rental property as "joint tenants" and we would like to change the rental income split. Do we need to sever the tenancy so that we own the property as "tenants in common" before using Form 17 and declare a change in beneficial interests ?

My wife and I, legally married, jointly own a property from which we have been earning rental income. However, we wish to transfer the sole beneficial interest to my name. I'm aware that we'll need to complete a Declaration of Beneficial Interests in Joint Property and Income. My inquiry regarding the evidence required to establish unequal beneficial interests in the property. I understand that a declaration or deed is necessary for this purpose. Could you please clarify the acceptable format for this declaration or provide and example ? Additionally, is witness testimony required, and if so, who should witness it? can it be done by the same person ? Does it need to be done via legal professional or can we do it ourselves ? Thanks