Hi, can anyone advise of the process in regards to removing one persons name from the title deeds of a property? Specifically whether a solicitor needs to be involved, and if so how much they would be likely to charge?
You need to transfer the property into the name of the other owner. If there is a mortgage, then the mortgage company will need to agree. They will normally only do so if they are convinced that the other owner can pay the mortgage alone, which will require proof of income, and possibly a new mortgage offer which will have conditions to be complied with. There may well be tax forms to complete and the new sole interest will need to be registered. If there is no mortgage, it may be possible to do it without a solicitor, but that may not be advisable - it would depend on the reason for the transfer and any background agreements ( like debt/maintenance). You should speak to a solicitor, set out the whole scenario, and then get a quote.
As above. We did it, and hit a massive CGT problem as ex had been living in his own house for a while so it was a "second home"and he had to pay tax on the profit - even though there was no actual money changing hands. Not fair at ll but hey ho!
I did this when I remortgaged to take my ex off the mortgage and deeds. As I was remortgaging, I had a solicitor anyway so they did it as part of the process. I'm pretty sure it was a TR1 form for the Land Registry that I had to complete. He also needed to confirm to my solicitor that he was happy for the transfer to go ahead.