Conveyancing Solicitors

Transfers of Equity and Gifts

What is a Transfer of Equity?

A  Transfer of Equity is a transfer of a property where the people are connected to each other for example on a divorce where the matrimonial home is being transferred from joint names to a sole name or where two people move in together and want to put the house into their joint names.

The first question that we will ask you is whether you have a mortgage on the property. You will need to apply to your mortgage company for their consent to the Transfer of Equity. Most companies have a standard application form which you will need to fill out and send back to them so that the can look at the application and decide if they are happy (they may require a fee to be paid for this service).

Once you have your mortgage company’s consent we can prepare the transfer document. It may be that we need to arrange for the solicitor on the other side of the divorce to approve it. We will also arrange for you to sign. This can either be in a face to face meeting or we can send it to you. Your lender may require searches to be done, however we will look into this for you.

It could be that stamp duty is payable and we will talk you through this so that you can budget accordingly.

Once the document has been signed we will send it to the Land Registry. They will make the necessary changes showing the new owners or owners.

Legal Advice

Dealing with a Transfer of Equity can be a complicated legal process depending on the circumstances. We advise that you seek expert legal advice before proceeding to ensure the best outcome for all parties. Our experienced and dedicated Residential Solicitors can guide you through the process step by step. Contact the team today to find out more.

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    Julie Atkinson Ringrose Law portrait
    Julie AtkinsonDirector & Solicitor
    01529 301300
    Sarah Jackson Ringrose Law portrait
    Sarah JacksonDirector & Solicitor
    01522 561034
    Amanda Green Ringrose Law portrait
    Amanda GreenPartner & Solicitor
    01476 515859
    Bev Kirk Ringrose Law portrait
    Bev KirkTeam Leader & Senior Associate, Residential Conveyancing
    01205 314628
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    How can we help?

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      General enquiries: 0333 3580 393Your local office: NewarkGranthamSleafordBostonLincoln