Transfer of Equity

Where a person is being added to or removed from the title deeds of property, Independent Legal Advice may be required, especially where no money is being paid for the interest transferred.

About Transfer of Equity

There are many reasons why a person may be added to or removed from the legal title of a property. In the case of someone being added to the title, it is important for the person who is selling or gifting a share of their property to be advised separately from the person being added to the title, to ensure they understand the consequences of doing so. Every circumstance will, of course, be different, therefore what is right for one client may not be right for another but in all cases, the legal rights of the individuals concerned will be affected. We will first take the time to find out more about your particular circumstances and once we understand this, we can then tailor our advice to meet your needs. If you are selling or gifting a share of your property, and have been advised to obtain Independent Legal Advice on the Transfer, please get in touch by clicking the link below.

Why is Independent Legal Advice usually required?

Our Transfer of Equity Services Include:

Equity release is a complex financial decision with potential long-term implications for both you and your family. Legal Complexity: Equity release involves complex legal agreements and financial arrangements. Independent legal advice ensures that you fully understand the intricacies of the transaction, including the legal implications, obligations, and potential consequences, which are often long-term and can significantly impact your finances and estate. Protection of Interests: Legal advisors can assess the equity release contract to verify that it is fair and equitable, and that it complies with all relevant laws and regulations. They can help you negotiate terms that better protect your interests and potentially reduce any risks. Impact on Inheritance and Estate: Equity release can impact upon the inheritance you leave for your heirs. Legal advisors can provide guidance on how to structure the equity release to minimise its impact on your estate and help you make informed decisions about how to allocate the released funds. Alternative Options: Independent legal advice can also inform you about alternative financial solutions and help you assess whether equity release is the most appropriate choice for your specific financial situation. Preventing Predatory Agreements: Legal advice ensures that you aren’t pressured into equity release agreements that might not be in your best interest, as advisors are solely focused on protecting your legal rights and well-being. By seeking independent legal advice before pursuing equity release, you can make well-informed decisions, protect your legal rights, and minimise potential risks or adverse financial consequences. This advice is crucial, given the significant, long-term implications of equity release arrangements.

Our Transfer of Equity Services facilitate the legal process of adding or removing a person's name from the title deeds of a property that already has a mortgage. This is commonly required in situations like marriage or civil partnership, adding a spouse/partner to the title, separation or divorce and r:emoving one party's name from the title.

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ILA National iLtd is a limited liability company which is registered in England, and whose registered office address is at 3 Tteachers Way, Melksham Wiltshire SN12 8FA

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