When personal circumstances involving your property and living arrangements change, a transfer of equity may be required. This is where someone is added to, or removed from, the ownership of a property.
Why might I need a transfer of equity?
There are a variety of reasons you may choose to undertake a transfer of equity.
As a property owner, you may decide to add a partner, husband or wife to the title of the property or, during a separation, you may decide that one party is to be removed from the property ownership.
What are the stages of a transfer of equity?
The process for a transfer of equity will be different depending on each individual case and the type of transfer required.
As an example, for a transfer of equity from joint names to one name, where we are acting for the person remaining on the title to the property, the process would follow these stages: