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JimLawyer
JimLawyer, Solicitor
Category: Property Law
Satisfied Customers: 6074
Experience:  Senior Associate Solicitor
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I would like to know please at what point a property

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Hello, I would like to know please at what point a property transfers ownership legally? I think it is on 'Completion' but want to check that it is not on 'Exchange of Contracts'. Many thanks.

Hello, my name is Jim and I am a qualified lawyer happy to help you today.

It is at completion where legal title transfers to the new owner, not exchange of contracts. However you can have exchange and completion on the same day - but to answer your question, it is at completion stage. That is when the monies pass to the vendor and the sale has completed.

I hope this helps - if you can please accept the answer and give me a 5 star rating (the top right of your screen & then click “submit”), I can answer follow up Q&A's at no extra charge and I will be credited for helping you today.

Many thanks,

Jim

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