We are able to assist you with transferring of equity if a property needs to be transferred into another name in accordance with a divorce settlement or if you just need to for another reason.
If there is a mortgage registered over the property, you will need to apply to your current lender to approve a “transfer of equity” application. Once the application has been approved, and we have instructions from your lender, we will be able to draft the transfer deed, which effects the transfer of the property. We will then send this to you for signature.
It is important to note that stamp duty land tax is sometimes payable on transfer of equity transactions. Ask us about this, one of our property lawyers will be able to advise. Once the transfer deed has been executed by all parties, we will obtain any additional funds from you and/or your lender and proceed to completion.
Once completion has taken place, we will apply to the Land Registry to register the new ownership of the property. Once the Land Registry has completed the registration, we will provide you with a copy of the title deeds and return any originals to you lender for retention.
Contact us today to talk about your Residential Property issue with one of our specialist property solicitors
Please call 0800 916 9083, or email firstname.lastname@example.org. Our property solicitors operate across the country and can offer immediate and accessible representation anywhere in the UK.