A transfer of equity or property transfer is the legal process of adding or removing a person to the title of your property – whether that involves transferring all or part of the equity in your home between the parties. A transfer of equity may be required for various reasons, for example, to reflect a property settlement after the breakdown of a domestic relationship, or to include somebody on your property deed after commencing a new relationship.

While the concept of removing an owner or sharing your property with somebody else may seem simple, there are many factors to consider including whether the transfer will trigger Stamp Duty Land Tax or whether there is an existing mortgage on the property. Retaining a solicitor is important to ensure the process is carried out properly, each party understands their respective legal position, and that any potential issues are flagged.

While the concept of removing an owner or sharing your property with somebody else may seem simple, there are many factors to consider including whether the transfer will trigger Stamp Duty Land Tax or whether there is an existing mortgage on the property. Retaining a solicitor is important to ensure the process is carried out properly, each party understands their respective legal position, and that any potential issues are flagged.

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