A deed of transfer is actually a document utilised in conveyancing in England & Wales to transfer property from the original legal owner to a third party. It must be filed with the Land Registry where the property is to be transferred and must be accompanied by any necessary statutory instruments, or instructions. This kind of document is also referred to as a deed of trust. It differs from a mortgage in that there is no legal test to confirm the buyer’s credit rating, as there would be if a mortgage was taken out.
Under normal circumstances, when you sell or buy a house or other property, you take the home on the understanding that you will purchase it from the person whose name is on the deeds. However, if something occurs between the actual sale and when you finally close the deal with the new owner, the seller may then have a problem. Alternatively, they may have transferred the property without your knowledge or without your authority. If these things happen, the law will require that you ask for a change of deeds and that the new seller should sign the new deeds so that you are legally vested with the right to own the property.
The best way to avoid these potential problems is to use a specialist conveyancing solicitor to carry out the process for you. A good conveyancing solicitor will ensure that the transfer of the property takes place smoothly and that there are no problems that can later affect you. For Conveyancing Gloucester, visit Dee & Griffin, a leading Conveyancing Gloucester firm.
If you are going to sell or buy a property, you may want to talk with a specialist about the implications of a deed of transfer and how it can help you avoid potential problems.