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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10550
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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Good afternoon, I'd like to gift my share of a property I

Customer Question

Good afternoon,
I'd like to gift my share of a property I half own (my sister owns the other half and lives there) to my mother. The title includes leasehold. Should I seek legal advice, and how much should I expect to pay to transfer the ownership?
Very many thanks in advance
David
Submitted: 2 years ago.
Category: Law
Expert:  Aston Lawyer replied 2 years ago.

Hello and thanks for using Just Answer.

My name is ***** ***** am happy to assist you with your enquiry.

If you have a Mortgage on the property, please let me know, but on the basis that there is not one, her eis it what needs to be done-

Unless you are familiar with Land Registry procedure and forms, you will need to instruct a local Conveyancing Solcitor to deal with the Transfer.

A Land Registry Transfer document needs to be drawn up and which will need to be signed by all 3 of you. The Transfer then needs to be submitted to the Land Registry, for which a fee will be payable (£20-£90 depending on the value of the property).

The Land Registry will then update the title to show your Mother and Sister as the new owners.

As your property is Leasehold, the Freeholder will also need to be notified, so they can amend their records. They will normally charge a fee for

acknowledging the Notice that your Solicitor will need to serve confirming the change in ownership (normally £50 £100).

Your Solicitor is likely to charge approx £350-£450 plus VAT for dealing with all of the above.

I hope this assists and answers your qustion.

If so, I would be grateful if you could rate my answer.

Kind Regards

Al

Aston Lawyer and 5 other Law Specialists are ready to help you
Customer: replied 2 years ago.

Al

Thank you very much for getting back to me so quickly and with a comprehensive reply.

I don't have a mortgage on the property; and the value of the property was 110,000 when last valued. With that in mind, I should expect to pay around 650 to transfer?

Thanks again for your help

David

Expert:  Aston Lawyer replied 2 years ago.

Hi Dave,

On the basis the property is valued at £110,000, the Land Registry fee will be £30 if your Solicitor does the application online (which he should be able to do) or £60 if he does it via the post.

Many thanks for leaving positive feedback.

Kind Regards

Al