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Transfer of equity
Mabbi
Posts: 7 Forumite
My partner and I are separating. We jointly own a house (joint tennants) with a very small
mortgage (less than £700) that we are considering paying off completely to make things a bit simpler. She wants to buy me out and claims she has the funds to do so without refinancing. The property has been valued at around £130-135k so she would need to find around £65-67K or so to buy me out after we pay off the mortgage.
My question is do we need two solicitors one to represent each of us to handle the money transfer and the removal of my name from the deeds (transfer of equity) or do we need just one solicitor to handle the entire process.
I have done some research and some couples in similar situation have just filled in a form for the Land Registry and not used any solicitors, but I would prefer a solicitor to handle this to make sure the sign over and money transfer happens simultaneously.
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Find your own solicitor.1
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