​Transfer of Equity and Equity Release 

Transfer of Equity:  A transaction where the legal ownership of a property changes hands.

While these may appear simple at first glance, each case has unique circumstances. It's essential to assess the specific situation to ensure that all parties involved are adequately protected.

Here at TMT Legal Services, we understand that the process of transferring legal ownership of a property can be complex and varies based on individual circumstances. Whether prompted by divorce, the passing of an owner, or transferring property to a family member, our team of experienced lawyers is dedicated to guiding you through each step of the process.

We will ensure that all parties are adequately protected and assist you in navigating any potential tax implications, including Stamp Duty Land Tax, Inheritance and Capital Gains Tax, to facilitate a smooth transaction.

 

Equity Release: A way of unlocking some of the equity in your property into a lump sum of cash whilst being able to stay living in your home. You are effectively taking out a mortgage which is only repayable if you sell or die.

 

Before embarking on an Equity Release you should have a financial health check from an independent financial advisor. If you decide to proceed we can then act for you. Releasing equity from your Property will diminish the value of your estate and the amount your beneficiaries will inherit on your death. 

 

As part of our legal service we recommend that you discuss the issues with your beneficiaries to ensure that they fully understand the implications to avoid any misunderstanding in the future.

 

You should also take the opportunity to review your Will.