A Guide To Family Transfers
An overview of the basics.
WHAT TO EXPECT
Keeping the costs down. Buying, selling and transferring property to a family member can be straight forward. To this end and as long as everyone is happy to proceed peacefully (without conflict) the costs, timescales and stress can be kept to a minimum.
If everyone is in agreement the work can be kept to a minimum by using differing lawyers in the same firm. This has the added benefit of avoiding the extra expenses and adversarial nature of the transaction. It can also keep the red tape and missives to a minimum, which is all good for you the clients. If this is the case and you wish to save money just give us a call and we can put you in the right direction.
Lenders - The existence of having a loan over the property that is being transferred can restrict and limit the levels of savings. It may be that you wish to gift the property to your son or daughter, yet with a loan over the property this will restrict your options. Like may things in life savings are made by keeping things simple and straight forward. Many firms can over complicate the transaction which can delay and increase the price to you the client.
” Our advice is simple call today and see if we can point you in the correct direction. Even if you use another firm we are always happy to help. We say this because for many client its about the end result and in property law there are differing routes, each with its own benefits “.
Who to trust ? Information is in abundance, everyone has a story. Yet what applies to you, Facts may have been given in error, internet advice may be out of date or for the wrong laws. Could a quick call help?