When you want to transfer the ownership of a property, it is done through a legal process called the transfer of equity. We suggest you seek credible legal opinion before transferring the ownership of the property because it can bring significant changes in circumstances to you and others involved in the process.
Regardless of why you are looking at transferring the legal ownership of your property, Pindoria Solicitors have the legal expertise in protecting your best interests. Our conveyancing solicitors’ team is skilled enough to make the entire process simple for all involved parties.
What is Transfer of Ownership of Property?
Transfer of ownership of property refers to the legal process of adding or removing the names of a person from a title deed of a property. In other words, the ownership of the property is transferred to someone else. The reasons for the transfer could be many, and we believe this legal process requires advice from a knowledgeable conveyancing solicitor.
Reasons For Transfer of Ownership
We have been consistently providing complete help and legal advice on dealing with the transfer of ownership for a range of reasons, such as:
- Court Order
- Transfer the property to a beneficiary named in the Will of a deceased family member.
- Cohabitation arrangements have changed – remarriage or divorce
- Transferring property to spouse or civil partner
- Transferring property to children
- Property is gifted
- A Trust is being formed
- For better tax management
How do Conveyancing Solicitors help in Transferring of Ownership Process?
Our team of conveyancing solicitors have been advising several clients over the past decade on the proper steps to take that can make the entire process easier and efficient.
- We help prepare the transfer deed
- We make sure all the interested parties, including mortgage lenders, are duly notified.
- We ensure mortgage lenders provide the mandatory consent to the transfer
- Determine whether SDLT is payable
- Help with the registration of property with Land Registry
How does our team of Conveyancing Solicitors make a difference to the entire process?
We believe that a transfer of ownership of property is a reasonably straightforward process. However, it can get complicated if there is a mortgage on the property. There are several legal implications of transferring property ownership to others. As such, we recommend you reach out to our experts so that you are aware of these implications before signing on the dotted line.
We will make sure you completely understand the process and fully know the implications, obligations and legal procedure about property ownership transfer.
How Long Does the Transfer of Property Ownership Take?
We cannot accurately determine the exact timeline for the legal transfer of property ownership. However, the entire legal procedure could take anywhere between 4 and 6 weeks. Our solicitors will make sure this process is as streamlined and efficient as possible.
What is the Legal Process of Transfer of Ownership of Property?
The legal process of completing transfer of property ownership is:
- Download and complete the Change the Register (AP1) form
- In case you are transferring full ownership of the property, you need to complete the TR1 form.
- In case you are transferring part ownership of the property, you need to complete the TP1 form.
- Complete a Certificate of Identity form (ID1)
- Calculate the correct HM land Registry Fees
- Send the fees and the completed forms to HM Land Registry.
For transfer of property ownership from joint to single -during a divorce or separation – if you want to remove your spouse’s name from the title deed, you can complete the ‘Transfer of Whole of Registered Title’ form. If you want to add a name to the title deed – spouse, family member or a civil partner – you must complete the ‘Transfer of part of registered title’ form.
As the transfer of property ownership can become a complex and daunting process, it is always recommended that you seek professional and legal help from experts in the field. Regardless of the reasons for the transfer, you have to make sure every step of the process is given its due diligence to protect yourself legally.
With our years of experience in the field, we believe we have the proper knowledge to provide you with the right guidance, support and legal advice to make the entire process as smooth and hassle free as possible.