Property Transfers

What type of Property Transfers can you help me with?

We deal with all types of property transfers – for example if you wish to gift a property to your children. Transfers of Equity are also a type of property transaction that we deal with on a regular basis. We also deal with Transfers from individuals to Companies which has become increasingly popular in recent years due to taxation considerations.

I need to Gift or Transfer a property so what should I do?

Start by giving us a call on 0800 103 2600 or complete an enquiry form and we will call you back. Our property team will be able to guide you through the entire process but here are some of the questions we are often asked:

• What is a transfer of equity?

  A Transfer of Equity is the term used where the equity (or part of the equity) in the ownership of a property is transferred. That might, for example, mean a property in one name being transferred into two names or more or a property in two names being transferred into one name.

• What happens with a transfer of equity if the property is subject to a mortgage?

  You will need to apply to your lender to obtain their consent to transfer the property. The lender will wish to consider the affordability of the mortgage to the intended new owner(s).If you are adding a person to the ownership the application may be straightforward but if you wish to remove somebody that may be more challenging particularly if they wish to be released from their mortgage liability.

• Will Russell & Russell provide a written fee estimate for my property transfer?

  We always provide a written estimate at the outset of a transaction based on the information provided to us at that time, so that you know where you stand and to ensure that there's no misunderstanding between us at a later time. 

  In the case of residential property, we are usually able to offer a fixed fee for our time. We will quote a fixed fee for the work normally undertaken in a standard case and will provide you with a list of additional fixed fees that we would charge if you require additional work to be undertaken. Examples of this would be arranging a Title Indemnity Policy, preparing a Trust Deed or dealing with a Deed of Covenant. 

  We will always honour the fixed fee quoted unless the information relied upon by us at the time of the estimate was incorrect or it subsequently becomes apparent that there's an aspect of the transaction that will significantly affect the amount of time that has to be spent by us – in either case we will notify you of any such development before we proceed further. Examples of circumstances that might change the cost would be if the property is a flat, not a house as you initially informed us, if a lease extension is required or if the ownership is defective and remedial action is needed. For a free quote and breakdown of related disbursements known at this time, please use our quote enquiry form.

  In addition to receiving instructions direct from buyers and sellers, we also work alongside brokers, referrers and property agents who refer clients to us. If we have agreed to pay to them a referral fee for recommending us to act for you then We will disclose the amount to you and we will pay the amount involved to the referrer out of our fee.

• Will I have a direct contact number and email for my conveyancer?

  Yes, we will let you know the name and direct contact details of the person who is primarily dealing with your case when you become our client. That person will have support and also a Supervisor.

• What happens if I need to speak to someone out of normal office hours or at a weekend?

  We operate an out of hours, seven days a week service so you can speak to us in the evening or at weekend if you need to. The number to call is 07884 067 920.

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