Transfers of Equity

A transfer of equity takes place when a mortgaged property changes hands, with at least one of the original owners remaining on the title.

You may wish to undertake a transfer of equity if you are:

  • getting married and wish to transfer your property into joint names.
  • getting divorced or separated, and wish to transfer the property from joint to single names.
  • or if you are advised to do so for tax reasons by your financial advisor.

As there is usually no requirement for searches or enquiries to take place, transfers are generally more straightforward than traditional purchases. Our team have a wealth of experience in transfers and can guide you through the process, including dealing with your mortgage lenders and completing the registration of the transfer at the Land Registry.

Declarations of trust

Adding someone to the title of a property affords them certain legal rights, and is therefore a more serious process than it may seem. For example, if you are adding a new partner to the title, you need to think about what should happen if one of you dies; should the house pass automatically to the survivor or via your will? If your relationship breaks down, how much of the equity should each party be entitled to? Who should make the mortgage payments? Our team will help you carefully consider these issues.

 

 

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