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JGM, Solicitor
Category: Scots Law
Satisfied Customers: 13516
Experience:  30 years as a practising solicitor.
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I am looking to transfer a % of my property in Scotland to

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Hi - I am looking to transfer a % of my property in Scotland to my friend who I own the property with. We currently own 50/50 however I would like to transfer 15% of my property to her. What steps would I need to follow?

Thank you for your question. I am a solicitor in Scotland. You have to get your solicitor to draft a Disposition of a fifteen percent share in favour of your friend, have it signed and then registered in the Land Register. The title will be reissued with the adjustment you seek. Happy to discuss further. I hope that helps. Please leave a positive rating so that I am credited for my time.

Customer: replied 1 year ago.
Thank you. Does it matter that we have a mortgage still on the property (Property Value is £100K and Morgage left is £66K)

Not really because you would continue to jointly own the property and would continue to be jointly and severally liable for the mortgage. That means that both of you are basically liable for the whole mortgage anyway, not half each as many people think.

Customer: replied 1 year ago.
Perfect - do you offer the service to draw up the document?

No, JustAnswer I think is working on such a service but I don't think it's in operation yet. I will ask the moderator just in case.

JGM and other Scots Law Specialists are ready to help you
Customer: replied 1 year ago.
Thanks :)