Oratto's member residential conveyancing lawyers work from locations across the United Kingdom and can give you solid legal advice in relation to property transactions, including those that involve transfer of equity.
The Oratto platform is completely free to you and empowers you to make an intelligent and informed choice regarding your legal advice and representation – our role is to ensure that you are connected with the professional best suited to your circumstances, so that you can feel confident in achieving your objectives.
Oratto member lawyers will have the knowledge and expertise that you need and because all are signatory to the Oratto Member Lawyer Code, you are assured the following qualities:
- Efficiency
- Integrity
- Objectivity
- Accountability
- Openness and transparency
- Honesty
- Leadership
Transfer of Equity – the what and the why
A Transfer of Equity is when one or more person is added or removed from the title deeds. For example, a sole owner adding a husband or wife or a parent adding a son or daughter. If there is still a mortgage on the property it will also be necessary to change the mortgage deed.
There are several possible reasons a person might desire a transfer of equity. These include:
- You have recently married and want to transfer an existing home into joint ownership
- You have recently divorced or separated and want to transfer a jointly owned property into the sole ownership of one partner
- You are tax planning and wish to transfer a share of the family home to another family member
Mortgages
If there is no mortgage on the property, arranging a transfer of equity through a residential conveyancing solicitor should be a relatively simple process.
However, if the property still has an outstanding mortgage, it will be necessary to seek permission from your lender, particularly if there are complex financial arrangements related to a separation or divorce.
Property lawyers for confident remortgaging
For residential conveyancing services you can trust, contact Oratto today and we will put you in contact with the right property lawyer for your needs. Our members are drawn from firms right across the country and all strive to uphold the Oratto Member Lawyer Code.
Use Oratto today to find the legal advice and representation that is right for you. The whole process is completely free to you but empowers you to make an intelligent and informed decision regarding your legal representation during the process of transfer of equity.