Are There Any Legal Complications In Swapping Houses With Someone?

dave50 | 10:28 Sun 11th Aug 2024 | ChatterBank

8 Answers

Both houses are owned outright, no mortgages. They are of roughly equal value. Is it a simple process?

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The Builder

Technically, there'd be just two form-filling procedures with the Land Registry (one for each property separately.) No solicitor is required, but I'm damned sure I'd use one though.

Even with the best will in the world, neither you nor your friend can be sure of what is included in your respective Titles (assuming both properties are indeed registered.)

Charges/easements/rights of way/covenants etc etc. Both may be free of any of these, but some things have a habit of crawling out of the woodwork.......... as it were.

Both solicitors would also ensure simultaneous transfer too. It could all go avocado-shaped if one party transferred, then the other one failed to go ahead, leaving them with Title to both properties.

Not likely, but possible.

davebro3

You do hear of cases where someone has fraudulently acquired title via the Land Registry without the knowledge or permission of the rightful owner (so I'm guessing it's not that hard to effect a transfer).

netherfield

Run it past someone with legal knowledge, it's always possible that the gov will try and claim some stamp duty even if it's a swap.

We once exchanged land with another party, both of us had to pay land tax on the full value. Not sure if houses are the same, but these things have habit of coming back and biting you in the bum.

dave50

Question Author

Thank you all.