Solicitors for Transfering a Property into a Trust

Mary Ireland

Licensed Probate Practitioner / Director
Estate Planning Local Team Lead
Bramhall, 0161 440 0131
Get in Touch
Kevin Tyler
Kevin Tyler
1731683652
A very professional, efficient service and good communications throughout the process. I would highly recommend Mounteney Conveyancers in Cheadle.
Ellie Fowler
Ellie Fowler
1730298577
My partner and I recently bought our first home. Anna was our solicitor and she was brilliant. As first time buyers we didn't have any knowledge of what to do/expect but Anna was great at explaining the process. Anna also was great at keeping us updated, at each stage we knew what was going on and an estimated time frame - we couldn't have asked for anything more! Thank you again for helping us.
kon kwok chu
kon kwok chu
1730291521
We would like to express our sincere gratitude to Anna for her exceptional representation during the sale of our property.
Katie and the team at the Cheadle Mounteney office have done sterling work on the sale of our property and got us over the line. Katie in particular applied extra detective work in regard to an historic oversight with the Freehold purchase (nothing to do with Mounteney) which could have scuppered this sale. Thank you Katie for your support and customer service which is much appreciated. Liz and family.
Ian Dillon
Ian Dillon
1729863805
I have recently sold a property using Mounteneys Conveyancers Cheadle. The service I received was excellent, despite one or two complexities. Mounteneys staff were patient, supportive and kind. I would recommend Mounteneys to anyone .
Jay In Woodford
Jay In Woodford
1729806460
We are extremely pleased with the whole Cheadle Office Team who dealt with the sale of our Apartment in Cheadle. I would like to thank Katie in particular who was professional and tenacious in keeping the Sales process moving in the past few weeks. I am delighted how quickly Katie made the sale move to completion. She was thorough and fantastic with her communication. I wouldn’t hesitate to use them again and will be recommending them to Family and Friends - Well done Katie - Keep up the great work - Highly Recommend.
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£720 Inc VAT

Description

This is a discount-priced bundle product including:

(1) Transfer of Equity for no consideration product (normal price £540); and

(2) Declaration of Trust product (normal price £360)

The combined product is a discounted (by almost 15%) method to declare a trust, and then put your property into that trust – which is the most common application we find for trusts – particularly, in estate planning contexts, e.g. where parents might wish to place their homes “in trust” for their children in certain circumstances.

Please note that (as with the Transfer of Equity product) many ‘charges’ on the property, such as mortgages, will prevent the title to a property being transferred – although some charges will not prevent a transfer, but will remain applicable to the property after the property has been transferred. Even if there is nothing on the title to prevent the transfer, the terms of many mortgages will contractually forbid the transfer of property – i.e. it may breach your mortgage conditions to transfer mortgaged property (e.g. into a trust).

English & Welsh law does not allow property to be owned, legally, by individuals who are aged 17 or younger.

Whether an SDLT return is required may depend on the circumstances – if one is needed, then the cost of making it is included in the bundle’s discounted price.

How long will it take?

We don’t generally do anything for new clients until our process of client retention has concluded – this involves agreeing the scope of what we are doing for the price (our terms are below), setting-up our client record (that includes ID checks), and producing the bill (payment in advance is required for all new clients).

After that, the production of the documents is a job that we can undertake in a few hours once we can schedule it in our workflow, that can depend on how busy we are at any particular time. We would not usually take-on a job for which we could not engage within about a working week.

A completed transfer will then need to be submitted to HM Land Registry for registration. The time HM Land Registry take to process such a registration varies greatly, depending on how busy they are. Some applications are processed very quickly, up to “next day”; however, most applications appear to languish awaiting HM Land Registry attention; in 2021 many applications were taking about 6 months to be registered – and some types of application can take even longer than that, unfortunately. However, once submitted HM Land Registry process applications on any title in order of submission – so their delay ought not to affect the priority of your application relative to other matters on that title.

Money Matters

Your supplier is SRA-regulated Mounteney Solicitors, that charges VAT some customers may be able to reclaim

We charge £600 + VAT = £720 (plus £20 HMLR Fee)

There is more about our fees on our website here

If you have any questions, require any further information, or would like to engage us on the T&Cs linked Our Terms in the footer below, please don’t hesitate to Contact Us.