• What Is The Easiest Way To Gift My Share

    By Guest on 25th Jun 2020

    We bought a property recently, among 4 family members each owning 25% of ownership. I no longer want to be part of this ownership and gift my share, we have bought the property in January this year. what is the easiest way to do this? Will remortgaging need to done.

  • 1 Answers

    By NotaryExpress on 26/06/2020

    Transfer of equity (TR1) to divest yourself of legal and beneficial ownership but it would require lender consent if there is a mortgage.

    Alternatively, a deed of trust does not need to be registered and so would not require you to approach the lender in most cases. You would remain the legal owner (like a trustee) but no longer have a beneficial interest in the property.

    www.notaryexpress.co.uk

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