How to Add Someone to a Property Title

Author:
Sarah Ryan
Head of Property, Licensed Conveyancer
Date:
28/11/2019

If you want to add someone’s name onto your property title deeds, you’ll need to follow a process known as Transfer of Equity.

It’s quite straightforward, but there can be hurdles along the way, so it’s best to speak with one of our Conveyancing Solicitors who can guide you through the Transfer of Equity process.

For free initial advice get in touch with our national team of Conveyancing Solicitors.

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Transfer of Equity Process

Transfer of Equity works for both adding and removing a person from the ownership of a property. It might be that one owner wants to add a husband or wife, or a son or daughter. Separating couples also use this process to remove one of them from the property title.

  • The breakdown of a relationship requiring the division of assets
  • An ex-partner is removed from the property title and replaced by someone else
  • Transferring property into one person’s name
  • You’ve remarried or formed a new relationship and wish for your partner to be added to the title register
  • Tax purposes whereby the property is transferred into a family member’s name in order to be more tax efficient.

What Does Transfer of Equity Involve?

The first port of call for your Conveyancing Solicitor will be to check the Land Registry for your title deeds and prepare the transfer deed documents. Once this is ready you will meet with your Conveyancer and sign the title deed in the presence of a witness.

Your mortgage lender, bank or building society will need to be notified and if any third parties are involved, they must give written consent.

Your new title deeds will then be registered at the Land Registry. At this point, you will have to pay a fee to the Land Registry, which can cost anything from £50 to £920 depending on the property’s value.

Things to Consider

  • Do you currently have a mortgage on the property? If yes, then you’ll have to gain consent from your mortgage company to transfer the ownership. The new owner then has to enter the mortgage and a Conveyancing Solicitor will be required to comply with any requirements set out by the mortgage lender.
  • Leasehold or Freehold? If the property is a Leasehold, then you may require consent from the Freeholder and/or the managing agent for the transfer.
  • Will you have to pay Stamp Duty? It’s surprising the amount of people who don’t know that Stamp Duty Land Tax may be payable on a Transfer of Equity. It’s something you will have to factor in when budgeting, and ensure that you provide accurate budget information to your Conveyancing Solicitor, who will, in turn, inform you of exactly how and when Stamp Duty Land Tax is payable.

Our Conveyancing Solicitors can assist with any queries you may have regarding current mortgages and also provide a breakdown of the legal fees involved.

How our Conveyancers Can Help You

Our team of Conveyancers and Conveyancing Solicitors have a wealth of knowledge and experience that enables them to make your Transfer of Equity process run as smoothly as possible. We’ll guide you through each stage and offer full clarity throughout.

Our Transfer of Equity fees are competitive and there are no hidden costs to worry about. We’re upfront about what we charge, and we will always advise you in advance if any unforeseen work needs to be carried out.

For free initial advice call our Conveyancing Solicitors

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