Watch: Transfer of equity video

Duration: 1 minute 45 seconds

Transfer of equity is a process involving changing the ownership of a property, either by adding or removing someone from the title deeds. Our video details all the essential information relating to transfers of equity.

Read the transfer of equity video transcript

A transfer of equity is most commonly applied when a couple marries or moves in together or conversely if they separate and one partner chooses to leave.

It can also be applied if a parent wants to add an adult child to their property title deeds, giving them a share of ownership, without them having to pay or invest.

In any situation, a transfer of equity allows for changing names on house deeds to reflect the property’s new ownership.

You will usually need a conveyancer to guide you through the process.

You will need to get written consent from your mortgage provider, as ownership is changing.

It might mean you have to apply for a remortgage, or new mortgage.

If you are adding someone to the title deeds, both parties can be represented by the same conveyancer. However, if someone is leaving, you may need to have separate legal representation.

All parties will need to provide thorough identification.

If the leaving party is to be paid, the conveyancer will have to confirm the source of funds to be used.

Once the process has begun your conveyancer will draw up the transfer deed document ready to be signed.

Your conveyancer will assist with the transfer of any funds between parties.

Finally, the details of the transfer will need to be passed on to the land registry and your conveyancer will transfer funds for the stamp duty if required.

That’s it, you’re done.

Find out more about what a transfer of equity is, the process and FAQs.