Transfer of Equity
Transfer of Equity is a legal term which denotes the process of transferring part ownership or interest in a property to another. There are a few reasons why transfers of equity take place. The most common of which are:
Marriage or Co-Habiting
Divorce or Separation
The process of transferring equity is incredibly complex. It can include a lot of legal documentation such as land registry applications and stamp duty land tax forms. The process is further complicated with the inclusion of a mortgage, as you will need the mortgage lenders permission before making any changes.
This is why we always advise using an experienced solicitor like the team here at Liddy’s. Do it yourself Transfer of Equity forms exist, and they can be straightforward to use under very, very specific circumstances. Even the smallest deviation away from these standards will make the complications much bigger.
By instructing a qualified and experienced solicitor you rid yourself of these worries, and can ensure that the results are exactly what you want, and are in the best interests of all the parties involved.
The conveyancing team at Liddy’s is led by Mohammed Khalil. A Conveyancing solicitor with over 15 years’ experience. We pride ourselves on the personal service we provide. By getting to know our clients personally we can ensure that they get the outcome they truly desire.
To find out more about our services in transferring equity just call our Wakefield office on 01924 366 896, our Barnsley office on 01226 731 314 or contact us here.