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Transfer of equity
Individuals and families may want to transfer all or part of the legal ownership of a property for many different reasons.
These could include:
- Following a marriage or civil partnership between two parties wishing to transfer the property into joint names
- You are co-habiting and wish to add the name of your partner to the property title
- Following a divorce or separation agreement, you wish to transfer the property into the sole name of one owner
- Transferring equity to children for tax planning purposes (subject to proper advice from a specialist financial planner)
- You are changing the share status of the property
These transactions are known as Transfers of Equity and involve a legal change to the ownership of the property.
Whatever your reasons for transferring equity in your home to another individual, Longmores Solicitors can guide you from start to finish, providing advice on issues such as the stamp duty implications and possible complications such as wills and tax. We turn a complex legal transaction into a simple, easy-to-understand process for you.
Our team of specialist property lawyers have successfully completed numerous equity transfers over many years. Our experience and knowledge help to ensure that transactions move forward as smoothly and swiftly as practicable and are completed cost effectively.
Our sophisticated case management system keeps track of routine paperwork so that our team members can focus on keeping you and others involved in the transaction abreast of progress and answering any questions you may have. We pride ourselves on excellent communication with clients.
Examples of our work:
Transfer of a second home. We acted for one of the owners of a seaside holiday home in the transfer to her of her co-owner's share in the property and dealing with the Stamp Duty (SDLT) payable and the subsequent transfer of the property to her daughter for tax planning and inheritance reasons.
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