Website Cookies

We use cookies to make your experience better. Learn more on how here

Accept

Transferring a Property into Joint Names

Due to the blended society we live in, there could be a million and one reasons why the property we live in may only be in one person’s name.

However, when the time comes to add another person onto the mortgage or title deed, what exactly needs to be done?

When the legal title of a property is transferred from one name, into joint names, the process is known as a Transfer of Equity.

There are a number of factors that you need to consider when you consider transferring a property into joint names. We’ll look at these points in more detail below:

Types of Joint Property Ownership

The two ways a property can be jointly owned (by two or more people) in England and Wales are:

  • Joint tenants
  • Tenants in common

Which type of ownership is right for me?

Joint tenants

This means the whole of property is owned in an equal share by those on the title. Neither person owns more than the other. However, when one owner dies, the property passes into the sole name of the surviving owner under the legal process of Right of Survivorship.

Tenants in common

This differs slightly from the above, as the amount of property owned by each owner can differ. Usually it’s a 50/50 share, but can be altered to reflect the financial contribution or ‘beneficial interest’ each person has made to the property. So for example, if one person has provided the deposit for the property, you may see a 60/40 split.

When one owner dies,  their share in the property will be passed on either in line with their wishes in their Will or using inheritance laws if they don’t have a Will.

You need to think carefully about which type of ownership suits your personal circumstances.

Updating the Title- Transferring a Property into Joint Names

Your Title will also need updating from sole to joint names. Your conveyancing solicitor will either check the HM Land Registry, if your property is registered for the deeds, or ask you directly for them.

They will then prepare a Transfer Deed which will need to be signed by all of the joint owners, as proof of the transfer of the title. It’s on this document, that the type of ownership you’ll set out.

It is here you may be advised to create a Declaration of Trust – if you’ve decided to own the deeds as tenant in common, which you and the joint owner can both sign to record the specific intentions around the split.

Other things to consider

  • If your mortgage is in a single name, this will need to be altered to add the joint owner onto the mortgage
  • If your property is leasehold you may need to require consent from the freeholder or managing agent regarding the joint ownership. Your conveyancing solicitor will be able to advise you on this if necessary.

Contact us

If you would like to speak to one of our expert property lawyers about transferring a property into joint names, call us on 0333 3055 189 or email us at info@leadingpropertylawyers.co.uk

General

Install an electric vehicle charger

With electric vehicles (EVs) becoming more popular, property buyers are looking for homes that offer an EV charging point. An EV charger is faster and safer than using a standard plug and electric vehicle service equipment cable, which can take a day to fully charge a vehicle. A dedicated EV charger can be up to...
READ POST
General

Why join LPL? A career in conveyancing with real growth and development opportunities

At LPL, we’re not just another conveyancing firm. We’re committed to fostering talent, helping people grow and creating pathways for real career advancement. When you join us, you’re joining a company that values individual development and provides comprehensive training to support you every step of the way. Our goal is to attract motivated individuals who...
READ POST
General

Government hopes to ban no-fault evictions by summer 2025

The government has introduced a Renters’ Rights Bill, which aims to provide greater for security for renters, and a ‘level playing field between tenants and landlords’. No-fault evictions – The new law will prevent landlords from evicting tenants in England under section 21 of the Housing Act 1988. This Act currently allows landlords to give...
READ POST

Get in touch today

We would love to hear from you, whatever your query, our experienced team can help get your property transaction moving. Please get in touch today by calling 0333 305 1012. Alternatively, complete our online enquiry form below and we will get back to you.

LPL Main Contact Form

"*" indicates required fields

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply
New Business

0333 3055 249

Our Address

5th Floor Delphian House
Riverside
New Bailey Street
Manchester
M3 5FS

Opening Hours

Monday – Thursday
9am to 5.30pm

Friday
9am to 5pm

Christmas & New Year

The office will close at 1pm on 24th December. We will reopen at 9am on the 27th December as usual.

We will close again at 1pm on 31st December for New Year. We will reopen at 9am on the 2nd January 2025 as usual.

Our final completion for 2024 will take place on the 20th December.

LPL and Leading Property Lawyers are trading styles of Read Roper and Read Solicitors Limited which is a Company registered in England & Wales (Company No.11269980) and is regulated by the Solicitors Regulation Authority under registration number 658171. We have been awarded the Law Society´s Conveyancing Quality Scheme (CQS), an accreditation which recognises the country´s leading conveyancers. A list of Directors is available at the registered office. The term ‘Partner’, if used, denotes a Director.