In a transfer of equity, consideration refers to the amount of money that is paid by one person to another, to add or remove someone from the title deeds of a property. For example:
- If you jointly own a £250,000 property with a family member, and that family member wants to buy out your 50% share for £125,000, the consideration for the transfer of equity is £125,000.
Stamp duty land tax (SDLT) for a transfer of equity is calculated according to the consideration and the amount remaining on the mortgage, not the full market value of the property.
Your next step
Whether you are gifting a property to a child, getting married or separating, or transferring equity for any other reason, we can help you find an expert conveyancing solicitor. Even if you are just looking for advice, we can help.
If you are also planning to remortgage as part of the transfer process, the remortgage legal work can be completed at the same time as your transfer of equity.
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Puzzled by the
transfer of equity process?
Frequently asked questions:
- How does the transfer of equity process work?
- How much does it cost to transfer equity?
- Do I pay stamp duty land tax (SDLT) on a transfer of equity?
- How do I transfer equity in a property with a mortgage?
Get all the answers in our comprehensive FAQ section:See more FAQs
Helen Goddard, Legal researcher
About the author
Helen is an award-winning legal researcher and author. She is an experienced court litigation report proofreader and has written extensively on legal matters.