• Change Of Ownership

    By Guest on 18th Jul 2016

    I own one house (no mortgage) which i wish to gift to my son, i have a mortgage on my home which I will keep and will not change.
    The house I am giving my son as a gift he will live in but wants to sell.
    How to do this and what fee's will we incur?
    Thanks

  • 1 Answers

    By Guest on 25/07/2016

    The transaction you are describing is a deed of gift. It is fairly straightforward and simply means you signing a TR1 in his favour and registering it with Land Registry using form AP1. If you do it yourself you'll need to both go to a solicitor and have him complete and sign form ID1 for each of you. There may be other things you need to do depending on the circumstances. It is worth getting a quote from a solicitor to do the work though, it would save you the hassle and is unlikely to cost a fortune. Try getting a quote via the link on the right side of this page.

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