Legal docs - home ownership

Alec_Eiffel_2

Hi all. Does anyone know an approximate cost of what a solicitor would charge to change the names on the ownership documents of a home in dual ownership of two individuals so that the home is in the name of just the one person? There is no contest in ownership, all parties are happy with it, there is no mortgage left to pay etc etc! Are we talking hundreds, thousands of pounds? Thanks in advance.

dmg24

It isn't just a case of changing names, but it should only cost a few hundred pounds.

Alec_Eiffel_2

Thanks for your help. Yeah i was thought i might be oversimplifying a bit! Cheers for your help- any more info about how it's done and how long it'll take would be appreciated! I know the solicitor would give all the info but anything in advance would be great.

Alec_Eiffel_2

Just a quick bump on this - can anyone offer advice (it's not really my issue, I'm investigating on behalf of someone else so I can't talk to the solicitor myself!!).

Thanks!

Debt_Free_Chick

You don't have to pay a solicitor at all. You're just changing the title - which is the official register of who owns which property.

Is the person coming off the title getting money for their share? I only ask, as it makes a difference to which form you use.

RabbitMad

You might want to check that Stamp duty isn't payable on this. I know in some circumstances it is when a property transfers ownership.

Alec_Eiffel_2

Thank you both for your replies :j

Debt_Free_Chick - No, no money is changing hands, it is purely to remove one of the two names from the title. The mortgage is fully paid off, the property is currently in the name of two people and it requires one of the names to be removed from the title.

RabbitMad - I'll have a look into stamp duty, that never even occurred to me!

Debt_Free_Chick

Alec_Eiffel wrote: »

Thank you both for your replies :j

Debt_Free_Chick - No, no money is changing hands, it is purely to remove one of the two names from the title. The mortgage is fully paid off, the property is currently in the name of two people and it requires one of the names to be removed from the title.

OK - you don't need to answer this, but it seems odd that the person being removed doesn't want any money for their share. When you're on the title, you own some of the value, so you would normally want the other person to buy it off you.

You need to complete the Land Registry Form TP1 and file it with the plan and fee.

I can't help with the Stamp Duty question as I've only transferred for money - and the duty was definitely payable then.

Alec_Eiffel_2

Thanks Debt_Free_Chick. Basically this all stems from divorce - the house is currently in both names and it was agreed that when the mortgage was paid off the house would pass into the sole ownership of one of the ex-partners, no money involved.

I'll check out the link you sent and take it all from there. Thanks very much for your help.

clutton_2

talk to the local land registry office - they are very helpful to the general public usually.

Alec_Eiffel_2

Thanks Clutton, shall do.