Can I transfer my property to another person?
Yes, it is possible to arrange the transfer of legal title of property from one person to another. This process is called ‘conveyancing’.
However, it is very important to thoroughly understand the process and its implications both financially (eg, bank mortgage) and legally (eg, the Brightline property rule) before you decide to move forward.
You might, for example, decide to transfer your property to another person if you:
- Sell your share in a property
- Buy out an ex-partner after a separation
- Buy out a joint owner
- Adding a new spouse, civil partner or unmarried partner to the record of title of your home
- Gift a property (or share in a property) to a child, spouse, civil partner or other other family member
Gifting a property is known as a ‘Transfer by Way of Gift‘, or a ‘Deed of Gift‘.
The definition of disposition of property in section 2(2) of the Estate and Gift Duties Act 1968 is broad in scope. The general words used to introduce the definition cover what are ordinarily regarded as dispositions:
… any conveyance, transfer, assignment, settlement, delivery, payment, or other alienation of property, whether at law or in equity; …
Furthermore, section 24 of Subpart 2 of the Property Law Act 2007 indicates that
A contract for the disposition of land is not enforceable by action unless—
- the contract is in writing or its terms are recorded in writing; and
- the contract or written record is signed by the party against whom the contract is sought to be enforced.
So How can I legally transfer my Property to another family member?
How it works
Get everything in writing to avoid any misunderstandings or disputes in the future.
- Be open and honest with your family member
Discuss your reasons for transferring the property with your family member and to ensure that they are aware of the implications of the transfer. - Seek professional advice
A qualified property lawyer can help you with all aspects of the transfer process and ensure that your interests are protected - Get everything in writing
Make sure you have all of the agreements and paperwork in writing to avoid any misunderstandings or disputes in the future. - Complete Transfer
This involves the family member paying you the purchase price and you officially transferring ownership of the property to them.
Transferring a property to another person is a legal process and this is normally completed by a property lawyer / conveyancing solicitor. This process is usually a quick and inexpensive process.
However, sometimes the process can be complicated – especially, for example, if there is a mortgage on the property or the property is a relationship property.
Our property lawyers are here to help you to make the whole process easy and quick and to ensure that no technical or legal mistakes are made during the process.
We guarantee that you will be legally protected and ensure that the legal transfer is completed correctly.
Subject to the Lawyers and Conveyancers Act (Lawyers: Conduct and Client Care) Rules 2008, we may not act for both parties involved in the change of ownership transaction due to any issues that may arise regarding conflict of interest. We then advise you that each party instructs separate lawyers to engage in this process.
If you wish to find out the process for a quick and inexpensive conveyancing process, you can click the button below.
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