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Transferring ownership of Tennants in Common
Listening1
Posts: 1 Newbie
Myself and a friend bought a house together, we have recently decided that we no longer want to live together. After disputing over the value of the property we have finally had a valuation. I am willing to give my half of the property to my friend for a share of half the equity.
Is this a simple process? The mortgage and house was bought with 50:50 share and both our names on all documents.
Do I need a solicitor or it is a simple as changing mortgage details, land registry and settling the equity between us?
Is this a simple process? The mortgage and house was bought with 50:50 share and both our names on all documents.
Do I need a solicitor or it is a simple as changing mortgage details, land registry and settling the equity between us?
0
Comments
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Provided your friend is able to get a new mortgage then yes, it is fairly simple.
You don't need a solicitor if you don't want one, but your friend will need a solicitor to deal with the remortgage and prepare the transfer paperwork. You may prefer to have a solicitor check the paperwork on your behalf before you sign as well.0
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