What's happening?
There are various reasons ownership of a property might need to change or be restructured — adding a partner to title, removing a former co-owner, or changing from one form of co-ownership to another. Each of these involves formal documentation and, generally, registration with the relevant land registry.
The approach taken depends on why the change is being made and how the property is currently held, so it's worth discussing your specific situation before documents are prepared.
What could it mean for me?
- Duty and other costs may apply depending on the type of change
- Existing mortgages generally require lender consent before a transfer
- The way co-owners hold title (as joint tenants or tenants in common) affects what happens on death or separation
- Incorrect or incomplete documentation can delay registration
What are my options?
- Clarify what type of ownership change is intended and why
- Check lender consent requirements if the property is mortgaged
- Consider how you want ownership structured going forward
What happens next?
- Discuss the intended change and current ownership structure
- Confirm any lender or third-party consents needed
- Prepare the necessary transfer or ownership documentation
- Lodge documents for registration
How can MGE Lawyers help?
We prepare documentation to change how a property is owned, working through the practical steps such as lender consent and registration on your behalf.