Transfer of Title Deeds

[TdeedsTnf]

I own 50% of a flat with a mate. He wants to buy me out. How do we go about transferring the deeds. He is taking over the mortgage and paying an agreed amount for equity gains.

[Fay Mousse]

The easiest way is to let the mortgage company do it - they won't transfer the mortgage to him unless you are removed from the Registered Title.

You can't be removed from the Title until your name is removed from the mortgage. Catch 22.

But the mortgage company will do it for a fee.

[TdeedsTnf]

Great, thanks will approach them first.

[bananie]

you need to consult a solicitor as they will require to amend the title deeds to take you off the security and put your friend on it as sole owner. He/she will require to do this and register the title deeds again or add a separate deed. The mortgage company will amend their deeds, but these are not necessarily the title deeds which are registered with the land registry and may affect possible transfer of title.