Transfer of Equity advice

[AliciaMay]

Anyone gone through this.

How does this work do both parties just have to sign the document or do we both need to speak to the lawyer. My ex said he would rather that I just dealt with it and he just sign the form.

No money is changing hands as he is giving me the house.

Might depend on the country you are in. I am in Ireland and paid around 2k to a conveyancing solicitor to have my exes name removed from the deeds of the property.

I am in Scotland.

So basically did you both just have to sign some forms.

The process a solicitor would follow is set out at Transfer of Equity | McEwan Fraser Legal. Note that, if there is a mortgage, it may be necessary to pay LBTT. If there is no mortgage, it is essentially just about signing the relevant documents in front of witnesses.

Just sign the form - TR1 and produce supporting documents?

OP is in Scotland. The process is a little different there. Scotland has its own land registry, Registers of Scotland. TR1 only applies to properties in England and Wales.

I’ve been through this I instructed a solicitor to handle the Transfer of Equity (with remortgage as mine was different I handed over monies in exchange for full title) me and other party did not need separate solicitors although he could have paid for his own legal advice. My solicitor prepared the paperwork contacted the other party, other party signed first the legal documents agreeing to transfer then me. Transfer was agreed at a specific date when I agreed to money being released same day. I used a solicitor as they were able to advise on significant tax implications of the property transfer and as we had a mortgage the mortgage company required a solicitor (registered with solicitor regulation authority) to oversea all the transactions.

Thank you for the advice

Nobody's mentioned the rather important point that if there's a mortgage you will need the permission of the lender to transfer the property, and they will only give permission if they're satisfied that you can afford to pay the mortgage by yourself.