BUYING HOUSE IN SONS NAME

johneym

I am a first time buyer buying a house. No mortgage.I wonder about the possibility of putting the house in my son’s name. Of course I would be signing for him as he is not yet of age, but I would like the property to be in his name. Is this a problem,complicated or extra work? Some basic information about putting the house in my sons name is all I ask. As for my reasons I would have thought to be honest that that is a private and personal matter and has no bearing on the information sought? But if you must know, it is something that my wife and I decided long ago. We basically want to set him up for life and can think of no better way of doing it than this. We want security for him and to be sure of that. The house will not be used as an asset or collateral by either of us against any loan. And we want to make sure this always remains so. There is also no guarantee that my wife an I will be together in say 10 years time and we want there to be absolutely no issue regarding the house and our son. We are both in agreement on this. Of course we may well be still together and probably will be but we want to secure our sons home now.
Our reasons are simple and genuine.
I will be paying for the house. There is no doubt about that.
Sorry but a lot of above was an e-mail to solicitor. He says there is a new law in 2009 which he doesnt know about but for him to investigate is an extra 500 euro.Also he says this is very complcated etc and I get the impression he does not want to do it.
DOES ANYONE KNOW ABOUT THIS OR CAN IT BE DONE?

THANKS IN ADVANCE.

JOHNEY

Maximilian

This is not a free legal advice forum. Having said that, you would need to put the house in your name as trustee, as your son is under age. I don't see it as being very complicated. Doesn't warrant an extra 500 in my opinion.

maidhc

I'd say try a different solicitor.

I assume the solicitor was referring to the Conveyancing (cant be bothered finding the proper name of it) Act 2009. I think this merely makes it easier to buy property from a trustee though.

Try a different solicitor, most will be glad of the work.

Victor

Do you also have your own home? It would be precarious for your son to have a home and you have none.

irish_goat

Any property law solicitor worth his salt should be fully aware of any laws affecting his/her area of expertise passed last year. Either your solitctor is not an expert in property law, is a rubbish solitictor or is trying to fleece you. Either way, sounds like you need to find someone else. If you're based anywhere near a large town/city there will be more than enough solicitors who will be well versed in property law.

Aside from all that, what you are asking is very doable but chat with a solicitor(who knows what they're talking about).

Maximilian

Yeah it did occur to me that he is seeking to be paid to learn something he should already know.