Transfer of equity is when a person is added or removed from the title deeds of a property. This means that a person is either no longer the owner of the property or becomes an owner on the property. At least one of the original owners must remain on the title deeds. Considerations such as if there is a mortgage or if there is equity within the property will be taken into account.
A transfer of equity requires legal work and a conveyancer is therefore required to do this on your behalf.
This is where Home Legal Direct can help.
Complete our online Transfer of Equity Quotation Form, and we will provide you with your transfer of equity conveyancing quotation in a matter of seconds. Should you wish to proceed, we will instruct your conveyancer on your behalf, connecting you with one of our experienced conveyancers from our panel of vetted and trusted conveyancing firms. We continue to offer advice throughout the conveyancing process to help make sure the transfer of equity runs smoothly and efficiently.
There are several reasons why people will require a transfer of equity most commonly due to a change in personal circumstances. It can be due to divorce or separation where one partner will remain in the property and ownership is transferred to that person. It can be due a new relationship where a new partner is added to the deeds of the house. Equity can also be transferred as a gift where a parent for example, adds a child to their property deeds.
Transfer of equity could be considered less complicated than when buying or selling a house. However, the personal situation of those involved such as divorce or if there is a mortgage or equity within the property, can make the legal process quite involved so getting the right conveyancer for you is important to ensure a smooth transaction.
Home Legal Direct are here to help. Complete our online Transfer of Equity Quotation Form and we’ll be in touch to discuss this with you and help you on your way.