Transfer of equity solicitors

If you are considering making a change to the legal ownership of your property, you can discuss this with a specialist Transfer of Equity solicitor.

Throughout our lives, our circumstances can change, and you may at some point, through changes in relationships or some other reason, find yourself considering transferring equity in your property. Reasons for this can include:

• If you have married or remarried, you may want to add your spouse to the property deed;
• If you have divorced or separated, you may want to remove your ex-partner;
• In the case of co-ownership, you may want to alter the percentage shares owned or one co-owner may want to buy the other out
• Tax efficiency with regard to future inheritance tax or personal gains limits

Do both parties need a solicitor for equity transfers?

In most cases where someone is being added to the title, the solicitor acting for the person being added may also be happy to act for the existing owner but only so far as registration of the transfer with Land Registry is concerned. It would always be recommended that independent legal advice is obtained in respect of the implications of equity transfers where part of the property is being transferred to another party.

Mortgages and transfers

Where there is already a mortgage on the property in question, you will need to consult the mortgage provider to see if they are agreeable to the transfer of equity, or if they would like to impose terms. If the mortgage provider is not agreeable to the transfer, you may have to arrange a remortgage with a different lender.

Transfer of equity advice

Our specialist conveyancing solicitors can advise you on all legal aspects. If you need to discuss an equity transfer, or get a conveyancing quote, please get in touch.