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Transferring house title from two to one?

(4 Posts)
MrsPinkCock Sat 25-Feb-17 10:36:45

Hello, thank you for any help you can give.

Does anyone know the process involved when one person is buying the other out of a house with a joint tenancy? There is no mortgage involved and the cash figure is agreed.

How long does the process take and do I need a solicitor or can I draft the transfer deed myself? I own the house with my sister so neither of us are bothered about legal advice and it's uncontentious.

Thank you anyone who can assist!

EyeStye Sat 25-Feb-17 18:13:07

Stamp duty will be payable on your sister's half by you, have you factored that in ?

It's fairly simple otherwise to do the Land Registry forms. It's a TR1 and possibly one more hopefully a conveyancer can confirm.

Where money is transferred the advantage of a solicitor is that the money and transfer can be done simultaneously.

DanGleballs Sat 25-Feb-17 18:17:30

The forms you need are TR1 and AP1. They aren't that difficult if you have some legal knowledge. The stamp duty return is a whole different ball game. It can be a little bit intimidating I can imagine.

DanGleballs Sat 25-Feb-17 18:20:07

I can recommend an online firm that will do it cheaply for you if you would like? It should take less than a month. My firm could have it done in a week or so but our charges reflect that too. It's worth paying a decent solicitor if you want it done particularly quickly.

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