- Transfers of Title -

In time, situations may arise when you wish to transfer all or part of your ownership of a home to another person, this is known as transferring title.

One such situation might be a parent wishing to put their child's name on the title of their home so that it will go directly to that child when that parent passes away, thereby lowering the amount of the estate and the probate tax payable.  Another situation might be a spouse transferring his or her interest in a home to an estranged spouse as part of a separation or divorce settlement. In this case I will require that a signed separation agreement or court judgement be provided before acting on the matter.

When these transfers are between spouses they are not subject to Land Transfer Tax.  In situations where a transfer occurs between other family members, Land Transfer Tax is payable on the amount of money paid or on the value of the outstanding mortgage, if any.

Consult a lawyer to draft the proper documents and register the deed transferring ownership.

Send E-mail to David Fysh at david@davidfysh.com

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