Commercial Transfer of Equity
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We help our commercial clients transfer equity in commercial property. Whether you're adjusting ownership due to new partnerships, navigating a relationship breakdown, or strategically planning for tax implications, we tailor our expertise to meet your unique needs.
We help our commercial clients transfer equity in commercial property. Whether you're adjusting ownership due to new partnerships, navigating a relationship breakdown, or strategically planning for tax implications, we tailor our expertise to meet your unique needs.
A transfer of equity is a legal process where the ownership of a property changes. This change can involve various scenarios, such as when joint owners decide to transfer the property into the sole name of one owner or when a sole owner introduces another owner to the title.
Unlike a sale or purchase, a transfer of equity is typically more straightforward since the involved parties already know the property, reducing the need for extensive searches or inquiries. While a contract is usually unnecessary, complications may arise when the property is under a mortgage, requiring the lender's consent for the transfer.
There are several common reasons for a transfer of equity. In cases of new relationships or marriages, a sole owner may transfer a share of the property to their partner or spouse. Another scenario is during relationship breakdowns, where a property is transferred from joint names to the sole name of one party following a separation or divorce. This transfer might be part of a court order addressing asset distribution. In a business arrangement, you may transfer equity to remove someone from the title.
Lastly, transfers of equity are also common for tax planning purposes. Property ownership may be shifted to a third party, such as a family member, to mitigate tax liabilities or ensure the property's continuity within the family.
Choosing not to engage a specialised commercial property lawyer during the transfer of equity in a commercial property can create substantial risks to you. By partnering with a skilled solicitor, you not only ensure legal compliance but also get peace of mind and confidence that the transaction has gone through successfully and that your best interests are being protected.
Our specialised commercial property lawyers bring a wealth of experience, ensuring a seamless and legally sound transfer of equity process. If you're navigating a change in ownership our team is dedicated to safeguarding your interests. With a keen understanding of the complexities involved, we provide peace of mind, making sure your transaction adheres to the highest legal standards. We will guide you through the intricacies of commercial property transfer with professionalism and expertise.
At GloverPriest, we provide friendly and transparent legal advice. If you would like further advice about your commercial property, please don’t hesitate to speak to one of our expert commercial property lawyers today. Complete our enquiry form.
