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Hi Colin, could you give me a little more information. In whose names do you want the Deeds to go into and do you have a Mortgage? Is any payment to be made or is it to be a gift? Al
Thanks for your reply Colin. Well, you will need to instruct a local Conveyancing Solicitor who will advise you of the implications of transferring the property to your son (ie you will lose all legal ownership in the property so that if your son were to sadly get divorced/be made bankrupt/die prematurely and before you, that the house may end up in the ownership of a third party).
If you are happy then to proceed, a simple Land Registry Transfer document will be drawn up, signed by you and then registered at the Land Registry.
Your Solicitor is likely to charge approx. £350-£500 plus VAT for this work and there will be a Land Registry fee of £20-£80 to pay, based on the property value.
On the basis that this is to be a gift, no Stamp Duty will be payable.
I hope this assists and sets out the legal position.
If so, I would be grateful if you could rate my answer in the top right hand corner of your screen.
Kind Regards Al