Common Intention Trust

While many properties only one name on the deeds, a second person might have an interest in that property – such as your spouse or civil partner, or an adult child you’ve bought a house for.

A Common Intention Trust protects that person’s interest in the property, and effectively aligns ownership with actual occupation, thus reducing or removing any liability for Capital Gains Tax, and also potentially reducing Inheritance Tax.

Three groups in particular can benefit from a Common Intention Trust: adult children living in a property bought by their parents (the son or daughter must be using it as their main residence); cohabiting couples who lack the legal protection of marriage; and people making inheritance claims, when a property is not registered in their name and there is no will.

To see if a Common Intention Trust might help you, get in touch below.