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Transfer of equity

A transfer of equity is a transaction where legal ownership of the property changes, but one or more of the original owners remains as an owner.

A Transfer of Equity most commonly occurs when a property owner wants to add or remove another joint owner. For instance when a couple split up or when a new partner is to live at the property.

If you wish to transfer equity in your property and there is a mortgage over the property then a mortgage lender would have to agree to any proposed change to the property ownership.

Stamp Duty Land Tax may be payable depending on the value of the share in the property that is being transferred, however where the transfer taking place is as a result of a court order in a divorce then no stamp duty is payable.

A transfer of equity may also be appropriate as part of long terms tax or estate planning however there are important factors to consider before making any such transfer and you should seek advice from our Trusts and Estates Department before contemplating this.

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