Transfer of Equity (or Transfer of Ownership) is the legal process for changing the legal ownership of a property, whether you wish to add or remove a person from the ownership of a property, or even change the person(s) entirely. At SAS Daniels, we aim to provide clear and sensible advice about your available options to allow you to make informed decisions to fulfil your transfer of equity needs.
Why might I wish to transfer equity?
Transfer of Equity may be required for a number of different reasons, such as:
- The current owners have separated or divorced
- The current owner has passed away
- The current owner gets married and wishes to change the property from a single to joint ownership
- Adding a new partner or co-habitant to a property
- Transferring equity as a gift
The Transfer of Equity Process
The first step in the transfer of equity process is to gather all required documentation including information about the transfer of equity request and a copy of the Title Register for the property (this can be obtained from the Land Registry).
Your solicitor will then:
- Confirm the information provided is correct with the Land Registry
- Review the title and property deeds
- Prepare the deed of transfer documents to be signed by all parties
- Check whether any Stamp Duty Land Tax is payable for your property
The next step is to obtain formal consent from all parties involved including: mortgage lenders and any current co-owners of the property.
As soon as all funds have been paid and paperwork has been signed, the transfer of equity is complete.
Why Choose SAS Daniels for my Transfer of Equity?
SAS Daniels’ Conveyancing and Residential Property solicitors have a wealth of experience to ensure that your transfer of equity is in good hands. Our specialist team will make sure that the entire process is clarified to you before any work is carried out and that issues are fully explained to give you the peace of mind that all legal details have been covered for the transaction.
Our team are accredited by the Law Society’s Conveyancing Quality Scheme (CQS), so you can rest assured that a trusted conveyancer with the technical expertise and best practice skills will be with you to guide you through the transfer of equity process.
Contact SAS Daniels
For further information about transfer of equity speak to our conveyancing and residential property solicitors on 0161 475 7676 or request a quote.