Transfer of Equity

What is a transfer of equity ?

A transfer of equity allows names to be changed on the title deeds of a property to reflect any change in the ownership of that property. It is a legal requirement when an existing owner of a property either adds or removes one or more people to the title (ownership) of the property.

Why might I need a transfer of equity ?

There are many situations where a transfer of equity may be required and these could include;

  • Adding a partner or spouse to the title
  • When separating from a partner or spouse
  • Transferring equity from one partner or spouse to another
  • Gifting ownership or part ownership to a family member or child
  • Transferring equity for tax purposes
  • Taking a name off the mortgage

What is involved?

Once you have instructed us to carry our a transfer of enquiry on your behalf we will begin my verifying your identification and will liaise with your mortgage lender (if applicable) with regards to the transfer. We will begin by obtaining and reviewing a copy of the property’s title from the Land Registry and will prepare all the necessary transfer deed documentation required . The next stage is to have all the transfer documents signed and appropriately witnesses and then we register the deed transfer so that the new owner (s) are registered at HM Land Registry.

How long will the process take ?

A straightforward transfer of equity can take around 4-6 weeks to complete. If there is a mortgage on the property, the transfer will take longer as you will have to wait to receive written consent from any lenders involved. Each transaction is different though and so timescales can vary depending upon the complexity of your situation.