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Transfer of Equity and Gifts

There are a number of reasons why people may want to transfer the equity in their property. The request most often, although not exclusively, arises following the breakdown of a relationship. The purpose of the transfer is to release or add a person(s) to the ownership of the property (Title) and/or to the mortgage where one exists.

The Residential Property team is experienced in handling the various situations where a transfer of equity occurs. Some examples include:

“Gifts” - many couples decide that they would like to own a property bought in one of their names in joint names. This can be for personal reasons, or as part of inheritance tax planning. We are able to refer to the Trust and Tax team, who are able to give advice on different schemes for tax planning.

“Separation and divorce” - sadly, many relationships now end in separation or divorce. Assisted by our Family team, we can give advice about the options available for dealing with the home; this may include letting, sale and/or remortgaging.

We generally also advise you to consider making a will at this point. If you have existing wills in place, a transfer may necessitate the need to review your existing will.

Please contact us for a no obligation quotation on a transfer.