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Transfers of Equity

Transfers of Equity

A Transfer of Equity is the term used to describe a change of ownership of a property where at least one of the legal owners remains on the title.

A Transfer of Equity is the term used to describe a change of ownership of a property where at least one of the legal owners remains on the title.

They usually take place when:

  • a couple owns a property jointly and they split up meaning one party needs to be taken off the title; or
  • someone new is added to the title (for example, when a couple gets married or a parent wishes to add a child to their property title).

There are risks involved when a property is being transferred between family members. Therefore, these points need to be explained to all parties involved. In addition, the title needs to be checked carefully for anything that may affect the joining or leaving parties.  You will need an experienced conveyancer to make sure you are advised correctly and your interests are protected adequately.

Whether you are being added to a title or removed, or are thinking about making a decision about the ownership of your property, please contact one of our conveyancers who will be happy to discuss the options available to you.

If you have any questions about change of ownership, contact Lynette Sharp on 01228 552243 or ls@burnetts.co.uk.

About the author

Published: Thursday 16th March 2017
Categorised: Residential Conveyancing, Legal Services in Newcastle, Penrith, West Cumbria

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