There are many reasons why you might consider transferring ownership of a property into someone else’s name:
Sales and purchases
This is the most common reason for the transfer of title.When a property is sold, the title is transferred from the seller to the buyer or new owner.
Gifting the property
You may wish to transfer ownership of your property to a family member.This can help minimize the amount of Inheritance Tax (IHT) due on your estate or provide an early inheritance for your children.However, there can be lots of implications involved when gifting a property and it is essential to seek independent specialist legal advice.
Divorce/Separation
If you are transferring a property into one person’s name following separation or divorce, it is essential to consult with a family law solicitor.The transfer can be part of a settlement or divorce agreement.If siblings or friends have jointly purchased a property and some individuals want to be released from ownership at a later stage, our experienced conveyancing solicitors can help with the property transfer.
Transferring a property into joint names
You may want to add a person’s name to the title register, such as making a spouse, partner or family member a joint owner. We make the process simple and straightforward. If there is a mortgage, you will also require the lender’s consent to add the new joint owner to the mortgage.
Transferring a property after death
If the property was jointly owned as joint tenants and there is a surviving joint owner, they will become the sole legal owner of the property. HM Land Registry must be informed to update the title and remove the deceased person’s name.
If the property was jointly owned as tenants in common, again HM Land Registry will need to update the title to remove the deceased person’s name from the register. The deceased person’s share in the property will be protected by a restriction on the register and will become part of their Estate.
Our experienced team can assist you with every stage of the transfer of title process. We will ensure your transfer is completed efficiently and correctly and will liaise with HM Land Registry on your behalf. Rest assured, we will keep you informed throughout the process and complete any necessary stamp duty forms that may need to be submitted to HMRC.
For approachable, clear and practical advice, don’t hesitate to contact our dedicated team on 01926 491 181. Your peace of mind is our top priority.