A residential investment property in England was acquired 20 years ago. It was registered in the name of Wife for reasons now forgotten, despite the fact that Husband provided the deposit was always regarded as the beneficial owner.
Rent was paid into H’s bank account. H declared the rent on his tax returns. The mortgage was repaid from the rent, and was redeemed several years ago.
There was no formal settlement, declaration or registration as a trust with HMRC.
H now wishes to share the property and income with W in equal shares.
H&W are UK citizens and UK domiciled.
It seems that this should have been registered, but what steps could be taken now to regularise?