Transfers of property within the family
We can help you with:
- Transfers of equity
- Gifts of property
- Transfers and legal charges pursuant to consent orders in matrimonial proceedings
Properties can be transferred between your family members for a number of reasons. For example on death, divorce or separation, for legitimate tax planning purposes and so on. Transfers of your property following divorce or separation will normally involve one party buying out the other’s interest, while transfers following death or for tax planning purposes will often involve gifts of one person’s share in a property to another member of your family.
Whilst the transfer or gift of a property within the family might seem a sensible and straightforward exercise, it can be fraught with difficulty. It is essential that you seek expert advice to ensure that a property transfer does not result in unforeseen and adverse consequences, such as avoidable taxes or other charges.
At Morrisons we have experts within our Residential conveyancing department who can undertake the property transfer for you. We will also call on the expertise of our Wills, estates & tax planning department to provide advice to you on tax implications, wills, and the impact on your wider family.