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Frequently Asked Questions
Q1. What is a Transfer of Equity?
A Transfer of Equity is the process of changing the ownership of a property without selling it. Common examples include adding a spouse or partner, removing an ex-partner following separation, or transferring a share of a property to a family member. The change is then registered with HM Land Registry.
Q2. Can I add or remove someone from my property’s title deeds?
Yes. We assist with preparing the documentation required to add or remove an owner from a property’s title. This is commonly required following marriage, separation, gifting a share of a property, or transferring ownership between family members.
Q3. Do I need a solicitor for a Transfer of Equity?
Not always. Many straightforward ownership changes can be completed without instructing a solicitor. However, if a mortgage lender requires legal representation or the transaction involves complex legal issues, a solicitor may be required.
Q4. Can I transfer part of my property to a family member?
Yes. A Transfer of Equity can be used to transfer a share of a property to a family member whilst retaining ownership of the remaining share. The exact requirements will depend on the ownership structure and whether a mortgage is involved.
Q5. How long does a Transfer of Equity take?
Timescales vary depending on the circumstances of the application. Once all required information has been received, we aim to prepare the necessary documentation promptly. HM Land Registry processing times and any third-party approvals may affect overall completion times.
Q6. Do you assist with properties that have a mortgage?
Our service is primarily designed for non-mortgage Transfer of Equity applications. If your property is subject to a mortgage, lender approval may be required and some lenders will insist on solicitor representation before ownership changes can be completed.
Q7. Do you assist with leasehold properties?
No. We currently assist with freehold Transfer of Equity matters only. Leasehold properties often involve additional legal requirements, notices and third-party consents which may require solicitor involvement.
Q8. Do you assist with probate or inherited properties?
No. We do not provide probate or estate administration services. If the property owner has passed away and ownership has not yet been transferred, you may need to obtain probate or seek advice from a solicitor before ownership can be changed.
Q9. Do you assist with first registration applications?
No. We do not currently assist with first registration applications. Our service is limited to properties that are already registered with HM Land Registry and require a change in ownership.
Q10. Do you provide legal, tax or financial advice?
No. Prime Property Transfers provides document preparation and administrative assistance only. We do not provide legal, financial, mortgage or tax advice. Where professional advice is required, we recommend consulting a suitably qualified adviser.