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Leasehold - How to inform Landlord of Transfer of Equity
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waitpatiently
Posts: 41 Forumite
I wish to carry out a Transfer of Equity on a house - owned outright (no mortgage), with myself as Transferor (named on the Deeds already) and objective is to gift the full Title to the Transferee (the other named Tenant on the Deeds).
Some research on this forum helped direct me to the forms associated with HM Land Registry processes, as I am possibly looking to do the Transferor forms myself with only a solicitor to witness my identity. I believe forms AP1 and ID1 are relevant.
However, it is a leasehold property. The lease is poorly drafted and difficult to determine from reading it what my responsibilities/costs to the Management Company in transferring equity are. I have understood from the lease that I need to notify the Lessor - does the fact it is a Leasehold mean I am better off using a Solicitor (all quotes are £550+VAT upwards !) as it is more complex, or can I simply email/write to notify the Landlord myself (any examples of level of detail expected)?
I am not sure of the risks of doing it myself but they seem low, so I am looking for advice or experience of this Lease part as smooth as possible. The Land Registry bit seems straightforward enough. The Transferee will be represented by a Solicitor because we felt like most of the work was on the Transferee side, and it is an amicable Transfer.
Also, is there a specific order to chase these things? i.e. get the Land Registry part completed first, or pursue both in parallel?
My knowledge on this type of thing pretty basic. Thanks in advance.
Some research on this forum helped direct me to the forms associated with HM Land Registry processes, as I am possibly looking to do the Transferor forms myself with only a solicitor to witness my identity. I believe forms AP1 and ID1 are relevant.
However, it is a leasehold property. The lease is poorly drafted and difficult to determine from reading it what my responsibilities/costs to the Management Company in transferring equity are. I have understood from the lease that I need to notify the Lessor - does the fact it is a Leasehold mean I am better off using a Solicitor (all quotes are £550+VAT upwards !) as it is more complex, or can I simply email/write to notify the Landlord myself (any examples of level of detail expected)?
I am not sure of the risks of doing it myself but they seem low, so I am looking for advice or experience of this Lease part as smooth as possible. The Land Registry bit seems straightforward enough. The Transferee will be represented by a Solicitor because we felt like most of the work was on the Transferee side, and it is an amicable Transfer.
Also, is there a specific order to chase these things? i.e. get the Land Registry part completed first, or pursue both in parallel?
My knowledge on this type of thing pretty basic. Thanks in advance.
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