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Property Ownership Transfer

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Had a great experience with Lawhive, not only did I get a great price compared to everywhere else I looked, but my assigned solicitor was amazing and super helpful every step of the way. I even got my wanted outcome with my custody case in the end.
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We had a very good experience with…
We had a very good experience with lawhive our solicitor was kind attentive and quick. She gave us all the relevant information and advice and sorted out our matter in a clear and straightforward manner. We are very grateful and pleased that we chose your services and would highly recommend.
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The service offered by Lawhive is outstanding
The service offered by Lawhive is outstanding. The process to find the most suitable solicitor is straightforward and efficient. The pricing is transparent and clear and the solicitors that have been provided to me have been outstanding. I would strongly recommend this company to anyone looking for a solicitor.
Jane,
09 July, 24
Courteous, fast and competent service
I would definitely recommend Lawhive also for the way the service is structured with a quick initial call and then their online private chat, which saves unnecessary costs, time and provides the kind of flexibility to follow the case when it’s more convenient to you.
Fabrizio,
12 July, 24
Great service and job well done
Great service, excellent communication, very accommodating with timing and date requests. All done efficiently. Highly recommended.
Basira,
23 July, 24
Very happy indeed
A great service and in my experience, knowledgeable, helpful and experienced solicitors who's help I found to be invaluable. Thank you Lawhive, great job.
Paul,
26 July, 24
Had a great experience with Lawhive
Had a great experience with Lawhive, not only did I get a great price compared to everywhere else I looked, but my assigned solicitor was amazing and super helpful every step of the way. I even got my wanted outcome with my custody case in the end.
Danny,
27 July, 24
Exceptional Support
I recently used Lawhive to assist with my British citizenship application, and the experience was fantastic. My lawyer was incredibly helpful and kind throughout the entire process.
Angels,
29 July, 24
We had a very good experience with…
We had a very good experience with lawhive our solicitor was kind attentive and quick. She gave us all the relevant information and advice and sorted out our matter in a clear and straightforward manner. We are very grateful and pleased that we chose your services and would highly recommend.
Jo,
02 August, 24
Rated 4.8 / 5. Showing our 4 & 5 star reviews.

About

Property Ownership Transfer is the process of transferring ownership of a property from one person to another. This can be done by selling the property, or by transferring the property through a will. Solicitors are essential in ensuring the legalities of the transfer are met.Next steps

How much does help with Property Ownership Transfer cost?

The cost for a licensed solicitor to help with Property Ownership Transfer is dependent on many factors including the complexity and specific requirements of the case. On average it is expected to range from £400-£800 but in some cases it could cost as much as £1,400.

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Property Ownership Transfer Guide

Transferring property ownership can be overwhelming and riddled with obstacles, including exorbitant fees, confusing legal requirements, and time-consuming paperwork. 

At Lawhive, we understand these challenges and are here to turn your daunting property ownership transfer into a seamless experience. We offer access to high-quality legal services at a fraction of the cost. 

From initial consultation to final transfer, our user-friendly platform and experienced network of property lawyers are with you every step of the way. What’s more, you can enjoy clear, upfront pricing with no hidden fees, so you know exactly what to expect. 

Contact our Legal Assessment Team to find out more and get a fixed-fee quote for the services of a specialist lawyer to assist with your property ownership transfer. 

property-ownership-transfer

Why might you need to transfer ownership of a property? 

Transferring ownership of a property can happen for various reasons including: 

It is important to seek legal advice when transferring property ownership to be sure that the transfer complies with legal requirements and that you understand any tax implications.

What is the property ownership transfer process?

The property ownership transfer process involves legally changing the ownership of a property from one party to another. 

Agreement on terms

The first step is for the current owner (the transferor) and the new owner (the transferee) to agree on the terms of the transfer. This includes the sale price (if applicable) and any specific conditions.

Instructing a solicitor 

Both parties typically instruct solicitors to handle the legal aspects of the transfer.

Lawhive can provide expert legal assistance at an affordable cost, guiding you through each step of the process. Contact us for a free quote and case evaluation. 

Preliminary checks and searches 

If required, your solicitor will conduct necessary checks and searches to verify the property’s legal status. This may include title searches, local authority searches, and ensuring there are no existing disputes or issues affecting the property.

Drafting the transfer deed (TR1 form)

The solicitor prepares the transfer deed, known as the TR1 form, which legally transfers ownership from the transferor to the transferee. This document must be signed by both parties.

Payment of Stamp Duty Land Tax 

If the transfer involves payment (such as in the case of a sale), the transferee may need to pay Stamp Duty Land Tax. The amount depends on the property’s value and other factors. 

Your solicitor will handle the SDLT return and payment on your behalf.

Completion of the transfer 

On the agreed completion date, the transfer is finalised. The transferee pays any remaining balance of the purchase price, and the transferor hands over the keys and vacant possession of the property (if applicable).

Registering the transfer with the Land Registry

The final step is to register the transfer with HM Land Registry. 

Your solicitor submits the signed transfer deed, SDLT certificate, and other necessary documents to the Land Registry. This updates the official records to reflect the new ownership.

Once the Land Registry processes the transfer, they issue updated title deeds in the name of the new owner. These documents are crucial as they provide legal proof of ownership.

What documents are needed for a property ownership transfer? 

The key documents typically required for a property ownership transfer are: 

  1. TR1 form

  2. Title deeds

  3. Sale contract 

  4. Mortgage details (if applicable) 

  5. Proof of identity

  6. Stamp Duty Land Tax return form 

  7. Property information form (TA6) 

  8. Fittings and contents form (TA10) 

  9. Leasehold information form (TA7) 

  10. Energy Performance Certificate

  11. Property title plan

What is a TR1 form in property ownership transfers? 

The TR1 form, also known as the Transfer of Whole of Registered Title, is the official document used to transfer the ownership of a registered property from the current owner (the transferor) to the new owner (the transferee).

The primary purpose of the TR1 form is to legally document the transfer of ownership and provide all necessary details about the parties involved, the property, and any consideration (payment) made.

It is advisable to have a solicitor assist with this form to ensure all information is correct and complete.

What are ID1 and ID2 forms in property ownership transfer? 

An ID1 form is used to verify the identity of individuals involved in property transactions, such as buyers, sellers, or anyone else executing documents related to the property transfer. 

An ID2 form is used to verify the identity of corporate entities involved in property transactions. This includes companies, LLPs, and other organisations.

They are required when an individual or corporate entity is not represented by a solicitor or licensed conveyancer who can verify their identity. Both forms must be completed and signed by an approved verifier, such as a solicitor, licensed conveyancer, or other authorised person. 

The verifier must confirm that they have seen the original identification documents and that the person matches those documents.

How long does the property ownership transfer process take? 

Generally, the property ownership transfer process can take several months. But, this depends on the complexity of the transaction, the responsiveness of the parties involved, and the efficiency of the solicitors and other professionals handling the process. 

Stage

Estimated Timescales

Initial agreement and instruction of solicitors

1-2 weeks

Preliminary checks and searches

2-4 weeks

Drafting and reviewing contracts

4-6 weeks

Signing contracts and exchange

1-2 weeks

Completion

1-2 weeks

Registration with Land Registry

2-4 weeks

Factors that may affect the timeline include: 

  • Complex transactions involving leasehold properties, shared ownership, or multiple parties.

  • If the buyer needs a mortgage.

  • If the property transfer is part of a chain 

  • The responsiveness of the buyer, seller, and their solicitors

  • Delays in receiving search results from local authorities.

In some cases, the transfer process can be expedited. For example, cash buyers who do not require a mortgage, straightforward transactions without complex issues, and proactive solicitors can all contribute to a faster transfer.

Do I need a solicitor to transfer property ownership?

Property transfers involve lots of documents including the transfer deed (TR1 form) and other legal forms.

While it is not a legal requirement to use a solicitor for transferring property ownership, many opt to use one as an expert legal professional can make sure these documents are accurately prepared, thoroughly reviewed, and correctly executed, reducing the risk of costly, time-consuming errors. 

A solicitor can also conduct searches and checks, manage the financial aspects of the transfer, and register the new ownership with the Land Registry. 

Even in very straightforward cases, such as transferring property between family members without any mortgage or financial considerations, many individuals use a solicitor to make the process easier and quicker. 

What are the tax implications of transferring property ownership?

Transferring property ownership can have several tax implications depending on the nature of the transfer. Taxes that may be payable upon transfer include: 

  • Stamp Duty Land Tax 

  • Capital Gains Tax 

  • Inheritance Tax 

  • Income Tax 

  • Value Added Tax (for commercial properties)

In certain situations, some taxes may not be payable. For example, Stamp Duty Land Tax is generally not payable if you’re gifting a property with no mortgage. Or, if you’re transferring property ownership to a spouse or civil partner the transaction is usually exempt from taxes.

Having said that, whether or not tax is payable when transferring property ownership will depend on the nature of the transfer, the value of the property, whether or not there is a mortgage and the relationship between parties. As such, it’s important to seek professional advice from a tax professional.

Do I have to pay Stamp Duty Land Tax when transferring property ownership?

Whether you need to pay Stamp Duty Land Tax (SDLT) when transferring property ownership depends on the transfer and the property's value.

Various SDLT reliefs and exemptions are also available for certain transactions, so it’s important to check if any apply to your situation. 

Standard property purchase

In a standard property purchase, you pay SDLT if the price exceeds current SDLT thresholds. The amount payable depends on the purchase price and the SDLT rate at the time of purchase. 

If SDLT is due, it must be paid within 14 days of the completion date. Your solicitor will typically handle the calculation, submission of the SDLT return, and payment on your behalf.

Gifts and transfers without payments

If the property is being transferred as a gift or with no payment involved, SDLT is generally not payable, provided there is no outstanding mortgage

Transfers with outstanding mortgage 

If the property being transferred has an outstanding mortgage and the new owner assumes responsibility for the mortgage, SDLT may be payable on the value of the mortgage balance if it exceeds the SDLT threshold. 

Transfers between spouses or civil partners 

SDLT is generally not payable on property transfers between spouses or civil partners, regardless of whether the transfer is due to a sale, gift, or part of a divorce settlement

Transfers as part of inheritance 

Property transferred as part of an inheritance is usually exempt from SDLT.

However, if the inheritor takes on an existing mortgage, SDLT may be payable on the outstanding mortgage amount.

Can I transfer property ownership to a family member? 

You can transfer property ownership to a family member. This type of property ownership transfer is quite common and can be done if you’re gifting property, as part of estate planning, or restructuring property holdings within a family. 

How does property ownership transfer work if there is a mortgage on the property?

If you’re looking to transfer property ownership with a mortgage, you have to get the lender’s consent first. They will review the transfer details and may require the new owner to meet their lending criteria. 

In this situation, there are typically three options available to you: 

  1. The new owner takes over the existing mortgage (transfer of equity

  2. The current owner pays off the mortgage in full before transferring ownership

  3. The new owner secures a mortgage, either with the same lender or a different one, to pay off the existing mortgage. 

If the transfer involves taking over or refinancing the mortgage, SDLT may be payable on the value of the outstanding mortgage if it exceeds the SDLT threshold. 

How to register a change of ownership after a property transfer

Registering a change of ownership to a property involves updating the records at the Land Registry. 

The process generally includes several key documents, such as the TR1 form (transfer deed), AP1 form to change the register, SDLT certificate (if applicable), ID1/ID2 forms, and mortgage details if there is a new mortgage. 

A fee is also payable to the Land Registry, the amount of which depends on the value of the property and whether the application is submitted electronically or by post. 

If you instruct a solicitor to assist with your property ownership transfer, they will prepare and submit the forms for you, which can speed up the process. 

Why choose Lawhive for your property ownership transfer? 

Traditional high-street law firms often charge exorbitant fees for property ownership transfer, putting a strain on your budget.

With Lawhive, you get the same high-quality legal expertise at a fraction of the cost. Our innovative approach combines technology with professional legal support, ensuring you receive exceptional value without compromising on service.

Through us, you get access to our fully vetted network of experienced lawyers ready to assist you at every stage of property ownership transfer. Whether you need advice on legal matters, help with documentation or answers to your questions, your solicitor is just a click away. 

Contact us today for more information and a fixed-fee quote for the services of a specialist lawyer.

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