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Thomas Judge
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I have applied release on my house which has been

Resolved Question:

I have applied for equity release on my house which has been granted. However, there will be no funds released until my wife has her name removed from the deeds. How do I do this.
She has agreed to the change.
Submitted: 1 year ago.
Category: Law
Expert:  Thomas Judge replied 1 year ago.
It is a straight forward process but you would normally instruct a conveyancing solicitor to undertake the process and would be expected to take a few weeks. The form to be used is land registry form TR1. The current owner(s) will be the transferor(s) and the new owner(s) will be the transferee(s). The first step is to obtain official copies of the title. It is necessary to check whether there are any mortgages on the property or whether there are any restrictions that will need to be complied with.If there are no mortgages then all parties simply need to sign the transfer deed and register it with the land registry. The application should be made using land registry form AP1 and should be accompanied with the transfer deed and, for any party not represented by a conveyancer, land registry form ID1. If the value of the transaction is greater than £40,000 then a stamp duty certificate in form SDLT5 will also be required. I hope this helps. Please rate positive
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