Transfers of Ownership / Transfers of Equity Specialising in the transfers of property ownership or property equity

At Heald Solicitors, we will deal quickly and sensitively with your transfer so that your property is held in the way that you wish.

A property transfer requires a legal transfer document to be completed, signed by all of the parties and registered at HM Land Registry. You should always take legal advice from an expert property solicitor before signing to be sure that you understand your rights and that the transfer is in your best interests.

We can advise you as to the implications of the transfer, whether it is into your sole name, into joint names with someone else or you are transferring your share to another person.

Our residential property team are experienced in dealing with all types of transfer, including more complicated matters involving trusts or divorce.

Transfer into joint names

If you are transferring a property into joint names with someone else, there are two ways in which you can own the property:

Joint tenants – You will both own the whole property in equal shares and should one of you die, the property will automatically become wholly owned by the survivor. This means that you cannot leave it in your Will to someone else.

Tenants in common – You each own separate shares in the property. You will specify what proportion you each hold, so it does not need to be half each. You can leave your share to someone else in your Will.

There are legal implications to both types of ownership, and we will talk these through with you to ensure that you choose the correct one for your situation.

Transfer into your sole name

If a property is to be transferred into your sole name, you will need the consent of any mortgage lender. Once the transfer is complete, you will be solely liable for the mortgage and any other liabilities relating to the property.

Property transfer between family members

There can be tax and inheritance implications in transferring property between family members, for example, from parents to children. Our residential conveyancing solicitors can explain these to you and ensure that the transaction you are proposing is the most beneficial and that your rights and interests are safeguarded.

Transfer following a death

If a property is to be transferred following someone’s death, we can advise you on any Inheritance Tax implications. Once the property has been transferred, we will arrange for registration of ownership at HM Land Registry.