Dale & Co. Solicitors Lincoln

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Buying a new home
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Tick if you are a first time buyer
Tick if the purchase is 'Buy to Let' or a Second Home
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The Transfer Deed

The Transfer Deed

To change the names on deeds to a property a Solicitor will firstly obtain the deeds or Official copies from the Land Registry and will then begin to prepare the Transfer Deed. They will notify any third parties and assess if stamp duty is payable (some Transfers of Equity are exempt from Stamp Duty, for example if the transfer is the result of a court order). A Stamp Duty Land Tax (SDLT) form will be completed and submitted to H M Revenue & Customs and identity checks undertaken. The Transfer Deed will be signed by all parties in front of witnesses.

If transferring at market value, the transfer deed will show the price paid for the share in the property. If your transfer is a 'transaction at an undervalue' (transferring for free or at a discount on market price), for example as a family gift, between companies or to avoid losing the property through debt or insolvency, you will also need to sign a Declaration of Solvency. If the person who transfers the property becomes bankrupt within a number of years of the transfer, the law can undo it in order to protect any creditors and the property can be sold off by the Official Receiver to cover debts. You may also need insolvency insurance to cover mortgage payments; your Solicitor can arrange this for you.



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Richard Dale

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Conveyancing

Nicola Welbourn BA Hons

Nicola Welbourn BA Hons

Head of Conveyancing

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11 Beaumont Fee Lincoln Lincolnshire LN1 1UH United Kingdom

01522 513 399

Fax 01522 53 05 89

mail@dale-law.co.uk


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Joanne Harper

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Laura-Beth Creasey

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Lucy Scale