There may be occasions where a property held by a sole owner is to be transferred to joint owners, such as on marriage, moving in together or for tax planning purposes. Although it can be a daunting process during what may already be a stressful time for you, our conveyancing specialists here at Mills Chody LLP can provide you with expert advice on all aspects of the transfer of equity. We will work to ensure your transfer is completed as efficiently as possible.
Lender consent will be required to the transfer. In some cases a re-mortgage will need to be completed simultaneously with the transfer of the deeds, or the lender may not be willing to remove the other party from the title.
There are also potential Stamp Duty Land Tax implications to consider and advice should be sought in relation to this before proceeding with the transfer of the property. In some cases it will be necessary that each party receives separate independent legal advice.
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