Transfer Of Equity / Matrimonial Transfers
A transfer of equity is a transaction where legal ownership of a property changes hands. For example where a couple transfer it into the sole name of one or other of them, or a person is added to the title.
It is generally much more straightforward than a sale or purchase as usually there will be no searches or enquiries, since the parties involved will have prior knowledge of the property, so there is no need for a contract.
If the property is subject to a mortgage, you must obtain the consent of the Lender before proceeding with any transfer of equity.
The Residential Property Team at Fosters Solicitors have a wealth of experience and knowledge to assist you in relation to any legal property query or matter you may have. Call us on 01603 620508 or complete our online enquiry form and a member of the department will be in touch very soon.
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