TRANSFER OF EQUITY SOLICITORS IN NEWCASTLE, GATESHEAD & BEYOND
Making Changes to Property Ownership
Our team at 22 Law are here to help you transfer ownership of your property with confidence.
A transfer of equity changes the legal ownership of a property by adding or removing one or more owners. Whether you’re transferring ownership following a relationship change, marriage, inheritance or simply adding a family member to the title, our experienced conveyancing solicitors are here to guide you through the legal process.
We’ll explain everything clearly, deal with the necessary legal documentation and keep you informed throughout the transaction.
Based in Whickham, Gateshead, we act for clients across Newcastle, the North East and throughout England and Wales, providing straightforward legal advice and a professional, efficient service.
Transfer of Equity Solicitors
A transfer of equity allows ownership of a property to change without the property being sold on the open market. It can involve adding a new owner, removing an existing owner or changing the ownership shares between existing owners.
At 22 Law, we regularly assist homeowners with transfers of equity, providing practical legal advice and ensuring the transaction is completed correctly.
If you are looking for information about buying or selling property generally, please visit our Residential Conveyancing page.
What Is a Transfer of Equity?
A transfer of equity is the legal process of changing who owns a property.
Common reasons include:
- Adding a husband, wife or partner.
- Removing a former partner following separation.
- Transferring ownership after divorce.
- Gifting part of a property to a family member.
- Tax or estate planning.
- Buying out another owner’s share.
Every transaction is different, and we’ll explain the legal requirements based on your individual circumstances.
Mortgage Lender Consent
If there is an existing mortgage on the property, your lender will usually need to approve the transfer before it can proceed.
We will work with your lender where required and ensure all legal documentation is completed correctly.
Joint Ownership
Where two or more people own a property together, we’ll explain the different ways ownership can be held and prepare any necessary legal documentation to reflect your wishes.
Divorce and Separation
Following a relationship breakdown, ownership of a property often needs to be updated to reflect a financial settlement or court order.
We can assist with the conveyancing aspects of the transfer while working alongside your family law solicitor where appropriate.
Adding a Family Member
Some homeowners choose to add a child, spouse or other family member to the legal title.
We’ll explain the legal process, prepare the necessary documentation and advise on any practical considerations before the transfer is completed.
Stamp Duty and Tax Considerations
Depending on the circumstances, a transfer of equity may have tax implications, including Stamp Duty Land Tax.
Where appropriate, we will explain the legal position and recommend that you obtain independent financial or tax advice if required.
Leasehold Properties
If the property is leasehold, there may be additional requirements under the terms of the lease, including notifying the landlord or obtaining consent.
Our Leasehold Conveyancing page explains more about buying, selling and owning leasehold property.
Why Choose 22 Law?
- Experienced residential property solicitors.
- Straightforward legal advice.
- Friendly, approachable service.
- Clear communication throughout.
- Efficient handling of legal documentation.
Request a Transfer of Equity Quote
If you need to add or remove someone from the ownership of a property, our experienced conveyancing team is here to help.
You can obtain an online conveyancing quote by clicking the button below, or contact 22 Law today on 0191 488 4950 for a competitive quotation and practical legal advice tailored to your transaction.
FAQs
What is a transfer of equity?
A transfer of equity is the legal process of adding or removing one or more owners from the title of a property without selling it on the open market.
Do I need a solicitor?
Yes. A solicitor will prepare the legal documentation, deal with HM Land Registry requirements and, where applicable, liaise with your mortgage lender.
Can I add my partner to my property?
Yes. Many transfers of equity involve adding a spouse or partner to the legal ownership of a property.
What if I have a mortgage?
If your property is subject to a mortgage, your lender will usually need to consent to the transfer before it can proceed.
Can ownership be transferred after divorce?
Yes. Transfers of equity commonly take place following divorce or separation as part of a financial settlement.
Our Residential Conveyancing specialists
ANDREW DAVERSON
Andrew is a Partner in our Whickham office and specialises in Residential and Commercial Conveyancing, together with Wills and Probate matters.
“I have used 22 Law twice now and would not use anyone else. I felt at ease with the staff. Andrew Daverson whom dealt with my conveyancing was efficient and never cut corners. I feel this is a very trustworthy company and I would highly recommend them.” Highly recommended!
Carol Moffitt
After deciding to move last year Claire and Callum worked on the sale of my old house and purchase of my new property. They provided excellent support and guidance throughout. I would have no hesitation recommending 22 Law .
Mark Junbull
Thank you so much for really pushing things through so we could get in for the 28th. Really appreciate it and it helped us massively.
Alice
