Equity Transfer Conveyancing
The process of property equity transfer refers essentially to the act of transferring the value or equity, either partially or entirely, of a property to a new or additional owner. It’s the process that allows you to modify the legal ownership of a property, either to remove one of the owners, to bring an additional owner, or to pass the property to someone else entirely.
The equity refers to the value of the property MINUS the unpaid sum of the mortgage. If you were to transfer a property valued at £250,000 that had an outstanding mortgage of £100,000, the equity that would get transferred in the process would be £250,000 - £100,000 = £150,000.
Property equity transfers are very common, but they require legal guidance from a trained legal advisor. That’s where our Jordans Solicitors team in the Black Country can help you to make sense of the legal requirements for a smooth and quick property equity transfer.
Our team of solicitors has helped numerous clients with their property transfer needs. If you are unsure whether you should proceed with a transfer, or what a solicitor can do for you, here is a brief overview of situations that require a transfer of equity:
- Your partner is moving in with you, in a house that is at your name. You wish to change the ownership arrangements and add their name to the property.
- You are getting divorced, and you want to transfer the house owned together with your partner to one person only.
- You have received the property as a gift.
- Your relatives are transferring their home to you.
- A court order is forcing you to sell your property so that the income generated by the sale can be used to pay your charging order debt.
- A trust is formed that means you will need to transfer your property equity.
Our team of experienced solicitors can provide the conveyancing support and legal guidance you need to manage the property equity transfer smoothly.
We, at Jordans Solicitors, understand how stressful a property equity transfer can be when you’re never needed to do one before. That’s why we’ve made it our mission to accompany our clients throughout the process to guarantee a hassle-free and stress-free completion. You can rest assured that we will put our knowledge, expertise, and practice at your service for a quick and successful transfer of equity.
Based in Halesowen and Blackheath, our team are the leading high street solicitors for Birmingham and the Black Country. We understand that legal proceedings can be overwhelming, which is why we make it easy for our clients to get in touch, either by text, email, phone call, or even face-to-face. We promise every one of our clients friendly and jargon-free guidance throughout their legal requirements.
If you want to organise a property equity transfer or know how we can help you with one, don’t hesitate to get in touch via our contact form or to give us a call on the 0121 585 3900 for the Halesowen office or 0121 559 2922 for the Blackheath office.
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