What is a Transfer of Equity?
Transfer of equity is the process of changing legal ownership of a property to someone else. This can involve transferring a property from sole to joint ownership and adding someone to the property, or vice versa, in which case a person will be removed from the deeds.
You might decide to transfer the equity of a property because the house is being transferred between family members, the property is being gifted, you have recently got married or have divorced your spouse, or the registered owner of the house has died.
Regardless of the reasons for transferring equity, it can be a complex process that results in significant changes for all concerned, therefore it is in your interests to seek legal advice. The system of transferring equity often requires obtaining consent from the mortgage lender and in some cases may require the remortgaging of property alongside the transfer of deeds. There can also be stamp duty and tax implications to take into account.
At Rotheras we are well-versed in transfer of equity transactions and can take care of the whole process for you, including making the application to the current mortgage provider on your behalf to approve the transfer of equity.
Why use Rotheras for Transfer of Equity?
We have a network of seven offices operating across Nottingham.
You will be designated a team member and given their direct phone number and email address.
We will keep you updated on progress at all stages of your matter and let you know about any communication with third parties such as mortgage lenders or where any third party disbursements such as stamp duty are payable.
We can also assist with remortgaging the property where required.
Once the transfer of equity is complete we will make an application to the Land Registry to register the new ownership of the property on your behalf.
We can advise you on stamp duty.
We can also draw on the experience of our Wills, Probate and Trusts and Family Law teams where needed to provide you will a comprehensive service that addresses all of your queries, including advice on inheritance tax and capital gains tax.
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Antony Fyson is a Partner and heads up the Long Eaton branch Office of Rotheras Solicitors and offers clients a wealth of expertise in Commercial Property and Conveyancing matters.
Duncan Godfrey is a Probate, Trusts and Residential Conveyancing Solicitor at Nottingham based Rotheras Solicitors and is located at our offices in the Lace Market and Burton Joyce.
Greg Tring specialises in all aspects of residential conveyancing and regularly acts for clients on sales, purchases, remortgages and transfer of equity and is part of one of the largest conveyancing teams across the East Midlands.
Michelle Young is a residential property specialist and heads up the residential property team at Nottingham-based law firm Rotheras Solicitors.
Lucy Pettitt has amassed over 12 years of experience in all aspects of Conveyancing.
Emily Weston is as an Associate Solicitor in the Residential Conveyancing team and is based primarily at our Beeston office.
Kerry Brown is a residential property specialist at Nottingham-based law firm Rotheras Solicitors.
Jan Raszyk is a Conveyancer in Rotheras Residential Conveyancing department.
Kerry Redfern is a residential property specialist at Nottingham-based law firm Rotheras Solicitors.
Chloe Smart is a Licensed Conveyancer in the residential property department at Rotheras and is based at our Lace Market Office.
Sally is our first point of contact for any new conveyancing enquiries that come in to the department and provides a bespoke quoting service for prospective clients, estate agents and other referrers of work.
Penelope Baird is a Paralegal in Rotheras residential conveyancing department and is based at our Long Eaton office
Vicki Ettles is a Paralegal in the residential conveyancing department at Rotheras and is based at our Long Eaton office.
Brett James is a Conveyancing and Wills and Probate Paralegal at Rotheras Solicitors and is based at our Lace Market office.
Emily Kevan is a residential property and commercial property paralegal at Rotheras. She is based at our Lace Market office in the heart of Nottingham city centre.
Sara Lockton is a Paralegal in the residential conveyancing department at Rotheras and is based at our West Bridgford office.
Grace Millward is a Paralegal in Rotheras Residential Conveyancing department and is based at the Beeston office.
Hollie Moore is a Paralegal in the Conveyancing department.
Holly is a paralegal who assists Head of Department Michelle Young and Kerry Brown at the West Bridgford office.
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Posted on 10/01/2020