A transfer of equity changes who legally owns a property without selling it. Here’s how it works and what to check.
It changes the names on the legal title. Someone is added, removed, or ownership shares change.
Common when a partner moves in or you want to share ownership with family.
Often part of a separation. The person staying usually needs to show they can afford the mortgage alone.
Gifting a share to a child or relative can have tax consequences.
If there’s a mortgage, the lender has to approve the change. Sometimes a remortgage is the simplest route.
Stamp Duty can be due if someone takes on part of the mortgage or pays money. Some situations, such as certain separations, can be exempt.
Your solicitor prepares the transfer deed and checks ID for everyone involved.
Once signed, your solicitor registers the change and the title shows the new owners.
Buying, selling, remortgaging or simply not sure where to start? Tell us what you’re trying to do and we’ll help you work out what you need.