House ownership: how to set percentage?

[tele_lover]

I'm on the deeds of a house with a relative. No percentages are stated, so presumably we both own 50%?

We want me to own 90% incase scummy Labour get silly.

What documentation needs to be done/exist if the relative wants to gift me another 40% of the house?

Or, even better, as the deeds dont state 50/50 could we pretend it was 90/10 all along?

(The 50% was gifted more than 7 years ago, so it is PET).

[Panamax]

Professional legal advice recommended.

There are various concepts which can complicate things. In very brief outline,

• "On the deeds" means nothing.
• At face value two names = joint ownership = joint tenancy (a technical term) = half each, although the two halves are not separate and when one owner dies the property is automatically owned 100% by the other.
• Irrespective of the top level ownership there can be a separate document (trust deed) by which both owners declare who owns what % of the property. This is called a tenancy in common (technical term). Each share of the property is owned by one person and forms part of their estate on death. i.e. the deceased owner can leave their share to whoever they like.
• Separately, you can't dodge IHT by giving away all or part of a house and continuing to live in it - unless you pay market rent on the bit you claim you have given away. At the simplest, "you can't have your cake and eat it".

Did I remember to mention professional legal advice recommended?