• Transfer Of Equity

    By andy wright on 16th Jul 2020

    I am carrying out a transfer of equity background: my mother gifted me a quarter of her house in 2016, however this is hampering my purchase of a property for myself and family due to the rules of forces help to buy (FHTB) rules. Currently makes me ineligible for the FHTB. to this end I need to give my quarter of the house to my brother who currently has a quarter also. my question is as I understand it is a 2 to 1 transfer as long as the restriction is (No disposition by the sole proprietor of the estate under which capital money arises is to be registered unless authorised by the court is adhered to can I transfer my quarter to my brother?

  • 2 Answers

    By NotaryExpress on 17/07/2020

    All of the current legal owners would be the Transferors in panel 4 of the TR1.

    The persons receiving the property (which I believe are your mother and brother based on the information supplied above) would be named as the Transferees in panel 5 of the TR1.

    Remember to take advice from your accountant on Capital Gains Tax and other potential taxes on any transfer of property.

    www.notaryexpress.co.uk

  • By Guest on 23/07/2020

    thanks for the answers

    another question when doing the land search (os1) box 10 signature does this have to be signed by all legal owners or the applicant submitting to the land registry

    in other words

    those in box 8 must sign box 10 or is it just those in box 6

    thanks

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