At Aristone Solicitors, we provide expert legal support and representation for all matters relating to transfer of equity. However complex your requirements, we go the extra mile to ensure all cases are handled in a simple and straightforward manner. Backed by more than 25 years’ experience, we provide qualified and capable legal advice on all aspects of equity transfer.
Whether a decision has already been made or you’d simply like to discuss transfer of equity in more detail, we’d be happy to help. Contact a member of the team at Aristone Solicitors anytime to book your obligation-free consultation at our Luton office.
What Is a Transfer of Equity?
The term ‘transfer of equity’ applies when a person is either added to or removed from the ownership of a property. There are various reasons why the transfer of ownership may take place, including the following common examples:
- Alteration to a prior habitation agreement (after divorce)
- When a property is gifted to another person
- Property transfers between family members
- Compliance with a court order
- When a trust has been set up
Transfer of equity is, quite simply, the transference of ownership (partial or complete) to or from an individual. Whether you’re taking or relinquishing the ownership of a property, it’s important that you understand your position, your obligations and your entitlements.
Equity transfer can be complex, which is why expert legal support should be obtained at the earliest possible stage. For more information or to discuss your requirements in more detail, contact a member of the team at Aristone Solicitors any time.
How Does Transfer of Equity Work?
Some equity transfer processes are easier than others. If all of the terms and conditions between the parties transferring the property are clear and amicable, transfer of equity can be fast and straightforward.
For example, if a married couple divorces and one partner leaves the family home, selling their half of the property to their ex-partner with no outstanding mortgage on the property, everything can be wrapped up in no time at all.
However, there are often additional factors and complications to consider. Transfer of equity can often have an impact on Capital Gains Tax, Stamp Duty and Land Tax, along with additional issues related to outstanding mortgage balances.
In addition, if there is any dispute between the two parties regarding the agreed terms and conditions of the transfer, it can be difficult to reach a resolution without outside intervention. The earlier expert legal advice is sought, the quicker and easier it becomes to complete a fair and amicable transfer of equity.
Contact Our Friendly Local Law Firm in Luton
For more than 25 years, our qualified legal experts have been providing bespoke support and advice on all aspects of equity transfer. Whether in the midst of a complex transfer of equity or simply considering equity transfer, we’d be happy to help.
Book your obligation-free consultation at our Luton office today, or contact Aristone Solicitors by e-mail and we’ll get back to you as soon as possible.