What is Transfer of Equity?
Transfer of equity means the transfer in the share of a property. It could be that a person is (a) added on to the property or (b) removed from the property.
Sometimes a payment made to a party for coming off or made by a party for coming on the property. This has stamp duty implication.
In most cases, it is part of a divorce settlement or when a partner wishes to add their other partner/spouse to the property.
It can also be used when a parent wishes to make a gift to their adult children by adding their child(s) name to the property. Note that the transfer must be to an adult child otherwise the property has to be held in trust if the child is a minor.
There are lots of reasons to use our conveyancing service:
Solicitor Regulation Authority Regulated Fixed Fees No meetings necessary Professional, experienced and friendly staff Online access to your transaction Total selling costs agreed in advance No Hidden Extras Direct telephone contact available
