When we think about buying or selling a home, we usually think about a full property transaction. But what happens when you’re not selling – just changing who owns a share of a property? That’s where a Transfer of Equity comes in.
What is Transfer of Equity?
A transfer of equity is the legal process of changing ownership of a property by adding or removing a person from the title deeds, without the property being sold on the open market.
You’re not transferring the full ownership to someone else – you’re changing the names on the title deeds usually so that:
- A partner or spouse can be added or removed
- Ownership is passed between family members (e.g as a gift or inheritance)
- One party buys the other out following a divorce or separation
- There’s a change in financial arrangements (e.g adding someone to the mortgage)
It’s still a legal process and must be registered with HM Land Registry, even if no money is changing hands.
Do I Need a Conveyancer for a Transfer of Equity?
Yes – while it might seem straightforward, a Transfer of Equity involves important legal steps, and its strongly recommended (often required) to use a regulated conveyancer or solicitor.
Here’s why professional help is important:
- Legal documents need to be prepared and registered correctly. You’ll need a Transfer Deed (TR1 form) and possibly a Stamp Duty Land Tax (SDLT) return, even if no tax is due. A conveyancer ensures everything is legally sound and submitted on time.
- You may need independent legal advice. In cases where one party is gifting their share, or where a mortgage is involved, both sides may need separate legal advice to avoid conflicts of interest.
- The lender will likely require it. If the property is mortgaged, the lender must give consent – and will usually insist that a qualified conveyancer handles the legal side.
- You’ll avoid errors or delays. A mistake in the process can delay things or cause issues with Land Registry. A conveyancer ensures everything runs smoothly and legally.
Is There Stamp Duty on a Transfer of Equity?
Sometimes, but not always. If money is changing hands (e.g one person is paying the other for their share), then Stamp Duty Land Tax (SDLT) may apply.
Your conveyancer will be able to assess this and submit the relevant forms to HMRC. In many family-based transfers or where no money is involved, stamp duty isn’t required – but it’s best to check.
How Long Does It Take?
A typical transfer of equity can take anywhere from 2 to 6 weeks, depending on:
- Whether there’s a mortgage involved
- If both parties are using solicitors
- How quickly documents are signed and ID checks are completed
With Simply Move Home, you’ll be guided through the process clearly and efficiently, with updates along the way so you’re never left wondering what’s next.
How Simply Move Home Can Help
We make the legal side of moving – or changing ownership – as simple as possible. Whether you’re adding a partner to the deeds, transferring ownership after a separation, or gifting property to a family member, we connect you with trusted, regulated conveyancers who specialise in Transfer of Equity cases.
We’ll match you with the right legal professional based on your needs, budget and timescale – no hidden fees, no legal jargon, just clear advice and proactive support.
Need to Transfer Equity? Let’s Get It Sorted.
If you’re planning to change the ownership of your property, don’t leave the legal details to chance.
Get in touch today to find a conveyancer you can trust – and make the process smooth from start to finish.
