Transfer of Equity
A transfer of equity changes the ownership of a property by adding or removing one or more owners. Unlike a sale, the property doesn’t change hands entirely; instead, ownership is transferred between individuals.
People transfer equity for all sorts of reasons, including:
- Divorce or separation
- Marriage or moving in together
- Estate planning
- Tax planning
- Transferring ownership to a family member
In some cases, the property is mortgage-free. In others, a mortgage lender has to approve the change before the transfer can go ahead. Many transfers are relatively straightforward, but extra requirements can arise when a mortgage is involved, or when you need advice on the wider legal and financial implications.
How we can help
We can:
- Advise on the legal requirements of the transfer
- Prepare the necessary documentation
- Liaise with your mortgage lender, where applicable
- Explain any Stamp Duty Land Tax requirements
- Complete the transfer of ownership
- Register the change at HM Land Registry
Whether it’s a happy change or a difficult one, we’ll handle the legal side calmly and keep it straightforward.
Some people are adding a partner to the title after moving in together or getting married. Others are removing a former partner’s name after a separation, or passing a share of a home to a family member. Whatever’s behind it, we’ll deal with the paperwork clearly and without fuss.
If you’re not sure which of these fits your situation, call us, and we’ll point you in the right direction.
