There are circumstances where it is beneficial to transfer the legal ownership of a property without selling it. This can be done through a Transfer of Equity.

What is involved in a Transfer of Equity?

The process involved in a Transfer of Equity depends on the particular circumstances, but usually involves the legal advisor determining the current owners and any mortgages registered against the property. To do this, the legal advisor will obtain an up to date title register from the Land Registry.

Is there a mortgage?

If there is a mortgage registered against the property then the consent of the mortgage lender will firstly need to be obtained. If there is no mortgage, or any other charges registered against the property, then a Transfer deed can be drafted by the legal advisor which will show the description of the property and who the property is being transferred from and to. All parties involved will need to sign the Transfer deed.

Is there an exchange of money?

If the property is being transferred with no money involved, the Transfer deed can be sent to the Land Registry to be registered. A fee is payable to the Land Registry to register the transfer, which is dependent on the value of the property.

If there is any money involved in the transfer, the monies will need to be sent and received before the Transfer deed is registered at Land Registry, and Stamp Duty Land Tax may be payable.

Registration of the Transfer

Once the transfer is registered at the Land Registry the Title Information Document is sent to the acting Solicitors. The legal advisor will then check the details of this and send a copy to the people to whom the property has been transferred, for them to retain.

A Transfer of Equity can be done alongside other applications that may be necessary, such as an application to Land Registry for first registration of a property.

To discuss a Transfer of Equity, please get in touch with Alexandra Hirst on 01625 523988 or