TRANSFERS
TRANSFEROR AND TRANSFEREE.
Whether you are transferring property ownership due to marriage, separation, estate planning or gifting to your children, we offer sensitive and expert guidance tailored to your circumstances.
Situated in Peterborough and covering surrounding areas, we handle all aspects of ownership transfers, including reviewing title deeds, obtaining lender consents where an existing mortgage remains, and drafting the legal deeds of transfer.
Our goal is to ensure the ownership transition is executed cleanly, legally, and in full compliance with all regulatory and tax requirements.
TIMELINE FOR TRANSFERS
3. Confirming Client Instructions
Upon receipt of your signed documentation and money paid on account we can begin the process of speaking with all parties and drafting the necessary documentation for signing. Transfers can also include either whole or part parcels of land for instance to allow someone direct legal access to their property.
2. Complete Requirements
Upon receipt of the client care letter please complete all of the forms therein and pay the required money on account. You will not need to provide any ID as we will send a link to you via e-mail to complete your ID checks. At this stage in the transaction please also provide details of all parties involved (and lenders if any).
1. Confirm Instructions
After receiving your quotation let us know either by e-mail or telephone that you would like to proceed and also provide details of your estate agent so that we can obtain the memorandum of sale (document listing details of the buyer, seller and their individual legal representatives). Upon receipt of both items we will open a file on our end and send a client care letter to you.
5. Completion
On the specified date for completion the property changes ownership and if you are receiving the property (transferee) we will submit an application to HM Land Registry to register your ownership.
4. Agree Dates
Once in receipt of the signed documentation we will be able to agree the specified date for completion with all parties.
TRANSFEREE
The transferee is the person or entity acquiring or receiving legal ownership rights, title, or an interest in a property.
Whether they are purchasing a home, receiving property as a gift, or being added to an existing title during a Transfer of Equity (such as joining a partner on a mortgage or adjusting shared ownership), the transferee is the party coming onto or increasing their share on the land registry title, receiving the rights previously held by the transferor.
TRANSFEROR
The transferor is the current legal owner who is selling, gifting, or transferring their title or interest in a property to another party.
Whether selling a home outright, gifting property to a relative, or relinquishing a share during a Transfer of Equity (such as following a separation or restructuring of ownership), the transferor is the person giving up or reducing their legal rights on the land registry title, while the recipient is known as the transferee.
FREQUENTLY ASKED QUESTIONS
Do I need a solicitor/conveyancing for buying and/or selling a house?
Yes. You will need to appoint a legal representative who will deal with your property transactions who will deal aspects such as raising the draft contract documentation on your sale or raising searches and enquiries on your purchase. Instructing a legal representative is important to protect your interests especially to ensure that your ownership of the property is registered correctly if you are purchasing.
How long does the process take?
Straightforward transactions are typically expected to take around 8-12 weeks though we aim for completion within 6 to 9 weeks where possible. More complex transaction would take longer than 12 weeks. There are a number of factors that would affect the time it takes to complete such as :
How many other transaction are involved (if you are selling to someone who is also selling their property in order to purchase yours and buying from someone who is also buying from another party - this is known as the chain)
If there any mortgage lenders involved and how long it may take to issue the mortgage offers
If any legal issues are encountered with the property
Search return times
What is Exchange and Completion?
Exchange is the point where contracts are exchanged and the transaction becomes legally binding and Completion is the day on which the funds and keys are handed over. Up until exchange you have the option to withdraw from the transaction however once contracts have been exchanged you must proceed with transaction and can incur a financial penalty for not doing so.
You have the option to exchange before completion (this can either a day, week or a month before) or exchange and complete on the same day (simultaneous exchange and completion). With a simultaneous exchange and completion there is less risk as contracts tend to be exchanged only after receiving the full balances of money.
What are your costs?
Quotations are priced individually per matter and are calcuated based on factors including (but not limtied to) the property price, whether the property is freehold or leasehold, whether a management company is involved and if you are purchasing with a mortgage.
How can I contact you?
You can reach us by on the number or e-mail address at the top or bottom of this page or alternatively complete our Contact form and we will respond as soon as possible (we aim to respond to all messages and enquiries within a 24 hours period).
What is meant by Freehold and Leasehold?
Freehold means you own the property and the land it stands on indefinitely. Leasehold means you own the right to use the property for a fixed period, such as 99 or 125 years, but the land/building is owned by a freeholder and at the least a management company is involved. Leasehold properties may also involve service charges & ground rent (payable yearly) and restrictions set out in the lease.
What is a 'chain'?
A chain is when there is more than one transaction involved. For example, you are buying from a person who is also buying onwards. You are at the bottom of the chain and the person who is only selling is at the top of the chain.
What is Stamp Duty Land Tax (SDLT)?
SDLT is a government tax payable on property transactions. First Time Buyers do not need to pay any SDLT so long as the purchase price does not exceed £300,000.00 and higher rates of SDLT are applicable if you are purchasing more than one property in your name. See the informational sheet for further information. Please do always consult your financial advisor on SDLT.
Can I still sell my property if I have a mortgage?
Yes. Your conveyancer will arrange for a redemption statement to confirm the amount payable to clear the mortgage upon completion. Depending on how long the mortgage has been over the property you may have to pay an Early Repayment Charge (ERC), please check this with your lender.
Phone
This website is owned and operated by Esvi Limited, registered in England and Wales, company number 16281685.
Our legal professionals provide our services through the solicitor's firm, Parity Legal Limited, which is authorised and regulated by the Solicitors Regulation Authority (SRA) under ID Number 658977. Esvi Limited is not regulated by SRA.
Financial services are provided from a number of our trusted and regulated partners.
ADDRESS
Suite 3, DHC Business Centre, 226 Dogsthorpe Road, Peterborough PE1 3PB
07306 696363