Adding a new spouse's name following a marriage - Transfers of Equity often take place where two people decide to live together (co-habit) and live in a home already belonging to one of the couple.
When marriages dissolve or when co-habitees separate - If a relationship or marriage breaks down and two home owners separate or divorce, a transfer of equity would be necessary to transfer the home from joint names to a single name.
A re-mortgage, either to a better mortgage deal, or to enable one owner to buy the other out, is often part of the arrangement.
Transfer of property to a family member which they would otherwise receive on the owner's death. The original owner has the satisfaction of seeing that the legal work relating to the transfer is all carried out satisfactorily whilst still alive. This can be a potential tax trap, and the exercise should only be undertaken with specialist advice. |
