Specialist conveyancing articles to inform you about conveyancing for a house or a flat; whether you already own your own home or if you are buying one. These are free to read and written by specialists in this area.

At SAM Conveyancing we give you all the information you need to know written in a way that makes it easy to understand. We also have a panel of conveyancing solicitors should you need someone to help with conveyancing for buying a home, lease extension, remortgage, transfer of equity, collective enfranchisement, independent legal advice or deed of trusts.

Please click, read and enjoy. If you get stuck or need any help then call us and speak to a friendly member of the SAM Conveyancing team - 0333 344 3234 (local call charges).

Gifting Property to Children

gifting a house
gifting a house
gifting property to children
gifting property to children
gifting property to children
Fixed Fee Conveyancing
Fast Completions
CQS Accredited Solicitors
On all mortgage lender panels
Rated Excellent on Trustpilot

Gifting property to children or to a spouse is very common. However, the process can be confusing as there are several routes to transfer property ownership. There are also tax implications for gifting a property under the full market value. Read more about this here in Capital Gains Tax on Gifted Property for Married Couples and Capital Gains Tax on Gift of Property to Children. In this article we focus on how to gift property to children and other family members. There are 4 ways to gift your property:

    Sale and Purchase at full market value
    Concessionary Sale and Purchase at under market value
    Deed of Gift, also known as a 'Transfer by Way of Gift'
    Transfer of Equity

How do you choose which route to go?
When transferring ownership of property from parent to child, spouse or family member you need to choose the quickest and most affordable route. Here's how:

  • The transfer is for full market value. This is a standard sale and purchase.
  • The transfer is gifted for under market value but for some consideration. This is a standard sale and purchase.
  • The transfer is gifted for no consideration. This is a deed of gift as long as there is no consideration, no mortgage and you want to transfer ownership to a family member.
  • The transfer keeps one of the original owners on the property. This is a transfer of equity.

We run through the legal process for each of the above routes to transfer property ownership below.

Gift from parents tax and risks?

These are the tax and risk considerations for gifting property to children:

What is the legal process to gift property to your family?

Here is the process for each of the ways you can transfer ownership of house to family members:

    Sale and Purchase for Gifting a House
Whether the transaction is for full market value, or under market value, if you are gifting property with a mortgage then you'll need to follow the normal sale and purchase process. Here are the key stages:

  • Seller and buyer get independent solicitors
  • Seller completes standard protocol forms such as fittings and contents forms
  • Buyer gets their mortgage offer
  • Buyer orders searches
  • Exchange and completion

The conveyancing process will take the normal time to get to exchange because you are getting a mortgage and ordering conveyancing searches from the council. Crudely estimated at 4 to 6 weeks if gifting house to child, however if it is a leasehold then it will take much longer to gift a house as the seller will need to get the leasehold management pack.

Fixed Fee | Excellent Trustpilot Rating | Gifting Property Specialists | On all Mortgage Lender Panels
    Deed of Gift/Transfer By Way of Gift
The parties leaving the title are unrepresented, unless they choose to get a solicitor, and the process is as follows:

  • New owners get a solicitor to handle the transfer
  • TR1 is drafted and sent to the Transferor (current owners) and Transferee (new owners)
  • Current owners get their ID1 form verified by a solicitor and obtain independent legal advice regarding the Transfer.
  • Completion takes place

This process of gifting a house is completed a lot quicker than a sale and purchase, normally 2 to 4 weeks. The part that can take the longest time is getting the ID1 verified and the legal advice on the transfer; especially if the current owner lives overseas. We can get your ID1 form verified so please get in contact if you need any help.

Fixed Fee | Excellent Trustpilot Rating | Gifting Property Specialists | On all Mortgage Lender Panels

    Transfer of Equity

Where one or more of the original owners are going to remain on the legal title the transfer can take place as a transfer of equity. The party leaving the title is often unrepresented.

  • New owners and remaining owner use the same solicitor
  • TR1 is drafted and sent to the current and new owners
  • Leaving owner gets their ID1 form verified by a solicitor
  • Completion takes place

A Transfer of Equity takes a similar time to complete as a deed of gift, however can take longer if the property is leasehold or there is a mortgage that requires the lender's consent to add the new parties onto the mortgage.

Fixed Fee | Excellent Trustpilot Rating | Gifting Property Specialists | On all Mortgage Lender Panels

Frequently Asked Questions

Do you need help transferring property to your children?

To speak to a specialist solicitor in this area and for help in supporting your children into their first property, call 0333 344 3234 for a fixed fee quote.

Get a Conveyancing Quote to Transfer Your Property to Your Children *
* Fixed Fee – No Sale No Fee – On all Mortgage Lender Panels
No time for forms? Call our specialists on 0333 344 3234 (local call charges apply).
Proud of our Reviews
SAM Conveyancing Reviews
Unbeatable Quote
Rated Excellent on Trustpilot with fixed fees and a friendly team to help you. See for yourself - get a no obligation online quote today.
Agree to Terms & Privacy
Related Articles
Concessionary Purchase
Gifted Deposit? Or is it a loan from your parent?