Transfer Of Equity Without Solicitor

russg3

Hello,

My question is can I transfer equity of a property without a solicitor getting involved on my side?

Me and my partner bought a property together last year and have since split up.

She has decided to buy me out of the property and will take sole ownership on a new mortgage for said property.
The funds have already been transferred to me (I know this shouldnt have been done without a solicitor) on a trust basis, and her solicitors who are dealing with her remortgage have asked for my solicitors details, to send the transfer of equity documents to.

Can I ask them to send these directly to me to complete myself?
I am trying to save myself paying £450+ on a transaction that I dont see any issues happening with, as we are both trusting in this situation and I have already received the funds agreed.

I have done a bit of research, and I think in addition to the solicitors documents, the below would be required:

1. Complete a TR1 and AP1 forms from the gov.uk website for the land registry (there is a small fee to submit believe)
2. SDLT60 form. Would I need to state the transfer of equity is a gift, as I have already received the funds in my account, or would I need to state the amount transferred, and that it is for my 50% ownership in the property?
3. Get written confirmation from my current lender that I am no longer registered as ownder of the property.

I will be getting a new mortgage, seperate from the above situation so will have my own solicitors for that. I have spoken to them and they wont be able to help with transfer of equity if a remortgage is not involved, and have said I would need to use someone else.

Does anyone have any experience with this?

Thanks,
Russ

davidmcn

Yes, there's no requirement for you to be legally represented. Her solicitors will deal with the conveyancing (and SDLT isn't your responsibility as the seller anyway), so you should just have to sign what they send you.