Transfers of Equity and ReMortgage
Properties can be transferred between your family members for a number of reasons.
Transfers of your property following divorce or separation will normally involve one party buying out the other’s interest for a cash consideration.
Transfers following a death or for tax planning purposes will often involve gifts of one person’s share in a property to another family member.
Whilst the transfer or gift of a property within the family might seem straightforward, it is essential that you seek expert advice to ensure that a property transfer does not result in unforeseen and adverse consequences, such as avoidable taxes or other charges.