Transferring property ownership?
Why would you need to transfer equity?
If you’re separating from your partner, you’ll need to divide up your assets – and the home will often be the most significant one.
You might have bought the house yourself and later entered a relationship. A transfer of equity could add your new partner to the deeds.
Gifting outright means that no money changes hands. The spouse gifting part of a property will lose the share they have gifted.
This is where a share of equity is transferred to one or multiple people, but the original owner stays on the title deeds. You might also need to consult with your mortgage lender if you have an outstanding mortgage on your property.
When owning a property with someone else, you can either be joint tenants or tenants in common. Joint tenants have equal rights to the property. Because of this, the property automatically goes to the other owner(s) of the property if you die. This is a common option used for married couples with their jointly owned property.
Buying a family member out, splitting the mortgage, or giving someone the gift of home ownership. We make it easy.
A gift of property is subject to capital gains tax (CGT), which is charged on any profit arising, or treated as arising, on the gift. Where a gift is made to a close family member, the market value of the asset is substituted for any sums which are actually paid and CGT is charged on the gain deemed to arise. It’s advisable to get legal or tax advice before attempting a transfer of equity.
Transferring equity to family members is a way to change who owns what share of a property without buying or selling the home. This could involve adding a spouse to the deed, removing an ex-partner after a divorce, or gifting a portion of the property to a family member. The original owner usually remains on the title deeds.
it’s not possible for someone under 18 to legally own property. However, you can transfer equity to a child under 18 by setting up a trust deed. This document allows a trustee to hold the property until the child turns 18, when the equity can be transferred to them.
About Us
Your Hassle-Free Solution to Property Documentation. We make it easy.
Say goodbye to costly solicitor fees and complex paperwork!
We are not regulated or authorised by the SRA, and we do not provide reserved legal/tax services to the public. However, this allows us to offer an affordable, efficient alternative for those looking to avoid costly solicitor fees.
We will carefully listen and assist you with your transfer by making sure all requisite documents are completed correctly and lodged with the Land Registry.
Whatever the reason for transferring the ownership of your home, we’re here to help.
Get your quote for the completion of property transfer documentation now
Here at Property Transfer, we want to make your transfer of property is a simple process.
Even though you’re not moving home, you’ll still need Property Transfer to help with changing the title deeds. And if it’s adding someone onto the ownership – we can assist you complete all the necessary forms.
Buying someone out, splitting the mortgage, or giving someone the gift of home ownership? You’ll need a helping hand complete the all the documentation correctly.
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