A transfer of equity is the process under which a current property owner transfers either a part or all their stake in a property to someone else.
Transfers of equity can take place for a number of reasons.
Some of the most common examples are:
- Marriage or living together
The new partner or spouse may take part ownership of a property which was previously owned in the other person’s sole name.
- Divorce or separation
When a couple divorce or separate, the person leaving the property may wish to have their name and legal liability for the property, removed. In some circumstances, this will involve buying the other person’s share out.
- Tax planning
In some circumstances, it may be beneficial for tax planning purposes to transfer ownership of a property, or part of a property, into someone else’s name, for example the owner’s children, grandchildren or a family trust.
Whatever your situation, at Myerson we have specialist property and tax solicitors who are able to advise you on all aspects of transfers of equity.
We have carried out a large number of these types of transactions and we will guide you through the process with clarity and ease.
Our specialist Family department and tax planning department are also able to provide you with expert advice in relation to any family, matrimonial, capital gains or inheritance tax/estate planning issues which you may have.
How We Can Help
A member of our specialist team will be happy to help.
To discuss Transfers of Equity issues, please either use the contact form on the right, email us at firstname.lastname@example.org or call us today on +44(0)161 941 4000 to speak to a member of our team.