Transfers Assents And Gift Of Land
A transfer of the equity in or an outright gift of a property requires the addition to and/or the removal of someone from the title to it.
There are several reasons why the homeowners might want to gift their property. The most popular reason is so that IHT liabilities can be reduced. Careful consideration must be given as inheritance tax may remain an issue for seven years after the transfer completes, meaning that should the donor die before the seven years are up, the beneficiary may still be liable for IHT.
Our conveyancing department works hand in hand with our colleagues in our Probate department to advise our clients against any pitfalls of property transfers and IHT liabilities.
Transfer of equity is also used for spouse transferring a property into the names of both spouses, by taking the name of a deceased owner off the title, by transferring ownership by way of gift or by transferring the property to beneficiaries because of a Grant of Probate.
As professional conveyancers, we can advise you on all types of property transfer.
Acted for high-net-worth clients on property transactions in London.
Advised investors on purchase and disposal of their property portfolios.
Advised on commercial lease transactions including acquisition and disposal of shops, restaurants, and offices.
Advised clients on acquisition of a hotel, part of a franchise at West End.