Dealing with your property on divorce
We are able to assist you with transferring equity if a property needs to be transferred into another name in accordance with a divorce settlement or civil partnership dissolution.
If there is a mortgage registered over the property, you will either need to apply to your current lender for consent to the transfer or apply to a new lender for a new mortgage. Either way, once the application has been approved, and we have instructions from your lender, we will be able to draft the transfer deed, which effects the transfer of the property. We can discuss this in further detail with you at the appropriate time.
It is important to note that Stamp Duty Land Tax is not payable where the transfer of a property or land is transferred as part of an agreement or court order where you are a) going through divorce proceedings or b) taking action to dissolve a civil partnership. This also applies if the parties agree to either a) the annulment of their marriage or b) legal separation.
The position for Stamp Duty Land Tax is different if owners are not married or not in a civil partnership. Please contact one of our Property Experts for more information in this regard as the transfer may attract Stamp Duty Land Tax.
Once completion of the transfer has taken place, we will apply to the Land Registry to register the new ownership of the property. Once the Land Registry has completed the registration, we will provide you with a copy of the title deeds and return any originals to your lender for retention.
