- Price Transparency Era - Toward the end of 2018 The Solicitors Regulation Authority introduced new rules to ensure clients have the best possible information on solicitor’s fees at the outset. Law firms are now required to publish price and service information on their website for the following areas of law; residential conveyancing, probate and employment tribunal claims to name a few. The aim is to provide greater transparency to clients enabling them to make informed decisions about their legal matter.
- Grants of Representation - A Grant of Representation is the document required to confirm your authority to deal with the estate of an individual who has died. A Grant of Representation can be necessary whether or not the deceased left a Will.
Transfer of Equity
If you are newly married with your own home and want to own your home in joint names, or are separating and wish to transfer ownership to one name, a transfer of equity could be right for you. It can also be helpful for transferring a share of the home to another family member.
Other situations where a transfer of equity could be appropriate include:
- If a court order has been made
- Simplifying the formation of a trust
- Facilitating a gift of property
Why legal advice is useful when transferring equity
If the property is mortgaged, the mortgage deed will also need to be altered, which increases the complexity. The same applies if money is being transferred (for example, if one owner wishes to buy out the share of another during a separation). In either of these cases, you will find our services even more valuable to help you achieve the right outcome. Parrott & Coales’ team of expert property solicitors will help you navigate this complex area of law with their many years of experience.
You also need to consider that payments will need to be made to third parties on your behalf by your solicitor. These could include stamp duty, search indemnity insurance and land registry fees.
Bearing all of these details in mind, it is very useful to have expert legal advice to guide you through this multifaceted area.