Transfers of Equity

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Transfers of Equity are transactions where the owners of a property wish to change the ownership of the property either by removing one of the owners of adding another person.

Examples of Transfers of Equity include: 
  • Where a couple are divorcing or separating and as part of their financial settlement a property is transferred from their joint names into one of their sole names
  • Where a couple are getting married or they are in an established relationship and one of them owns a property in their sole name and want the property transferred into their joint names
  • A parent wishes to make a gift of part of their property to their children and the property is transferred into the joint names of the parent and children. This might be done as part of Inheritance Tax Planning

You should be aware that if you are proposing a transfer of equity but there is a mortgage on the property and you want to retain the existing mortgage, then you will need to obtain the Lender's consent to the transfer. 

You should also note that if a payment is made to one of the owners for transferring the property and/or the property is subject to a mortgage, then stamp duty may be payable. 

If you would like to discuss any of the issues mentioned, please contact our Residential Property Department on 01279 755777.

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