• Splitting Land

    By Guest on 07th May 2020

    Hello
    My parents have their second home with a large side plot of land which I was granted by the planning department to build a house on its half way through the build and I’m wondering how I have the land /deeds for my half (where the house is built) in my name ? They also have a small mortgage on their second property which I currently rent at the moment will this be an issue when they ‘gift’ me the land ?

  • 1 Answers

    By NotaryExpress on 08/05/2020

    Transfer it to yourself via Form TP1 - we advise using a conveyancer for a transfer of equity. It's a fixed fee of £300+VAT with us - give us a call on 03333 122 221 or email [email protected]

    They will need to pay off the mortgage or obtain a discharge of part (DS3) from the lender in order to transfer the mortgaged land, or you could remortgage it into your own name.

    www.notaryexpress.co.uk

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