A transfer of equity takes place when a 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.
Note: Transfer of Equity transactions can attract Stamp Duty Land Tax for which you may need to take specialist advice.
Our team have a wealth of experience in transfers and can guide you through the process, including dealing with your mortgage lenders, preparing any declaration of trust and completing the registration of the transfer at the Land Registry.
If you'd like to speak to us about a transfer of equity: