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Are you in need of a Transfer of Equity with a JPMorgan Chase Bank, N.A. mortgage? Failing to check that a lawyer is on the JPMorgan Chase Bank, N.A. list of approved solicitors can put your transfer at risk of delay or failure. Only LenderPanel.com provides a subset of authorised conveyancers for over 130 lenders.

Sample questions relating to JPMorgan transfer of equity

  • I jointly own a flat in Ampthill , with a JPMorgan loan with my ex husband. He and his fiance are going to acquire my share. We had the go ahead from JPMorgan to substitute my name with hers. The transfer of equity needs to be completed by a conveyancer for JPMorgan (supposedly). Can we deal with the Land Registry change?
  • My former husband are seeking to get a lawyer lined up for a remortgage with JPMorgan. Transfer of Equity conveyancing is also requiredI have used the different rating based websites and the results are from all over England and Wales. Do we need to instruct a conveyancing solicitor local to us?
  • I got divorced in 2012. I simply never dealt with the change the ownership from both our names to my name alone. I am ready to do that and so is she. Transfer-of-equity is needed. JPMorgan is content to transfer the full equity in my name (affordability checks done). Does she need a conveyancer?
  • I purchased a flat with my cousin five.seven years ago Since purchasing the property, we have both got married. We are now looking to do a transfer of equity so my name is taken off the JPMorgan mortgage. There is a significant difference between the value the bank say and what the property would sell for currently. Can you offer any advice?
  • Is it possible to transfer the equity held in my property with my JPMorgan mortgage?
  • At what point do I incur the Stamp Duty Land Tax payable for the transfer of equity in my home in my name alone which is taking place at the same time as a switching mortgage via JPMorgan?
  • My JPMorgan home loan we jointly entered into with ex, he is agreeable to be removed and put the house in my name alone. JPMorgan have consented to the transfer of equity to my individual name. Do JPMorgan write my company to check my salary?

Questions that your conveyancing solicitor may ask about your JPMorgan Transfer of Equity

Has one of the registered proprietors passed away? If so please supply us with a copy of the Death Certificate, Probate and a copy of the Will.

Is the transfer of equity subject to a court order? If yes please supply a copy

Please confirm whether you are receiving any payment as part of the Transfer or Equity and from whom and provide details of the amount?

Is there to be any consideration monies passing between the parties for the Transfer of Equity? If so, please state the amount and who is to receive the same

Who will be responsible for the costs of the Transfer of Equity?

If you are adding a person on to the property how would you like to hold the property? Please provide your instructions by completing and returning a“Joint Ownership Declaration” Form.

Important warnings to consider in further to the above JPMorgan transfer of equity information :

Tax and Legal

There may be various tax and legal implications when transferring equity for your property. You should always seek the advice of a solicitor on the JPMorgan conveyancing panel and accountant before transferring equity.

Transfer of Equity Conveyancing for Leasehold titles

Should the tenure of your property be leasehold, the lease may require that you have a license to do so from the freeholder. If such conditions are not complied with you may be in violation of your covenants under the lease. This could trigger the freeholder taking enforcement action against you.

Indemnity Insurance

If the transfer of equity is made pursuant to an Order of the Court, then Insolvency Indemnity Insurance is not required. In other situations, where a property is being transferred at less than market value between joint owners, an Insolvency Act Indemnity Insurance policy may be required. This is something that that your conveyancing solicitor will check with JPMorgan This is because, if the outgoing party is made bankrupt in the future, their Trustee in Bankruptcy could argue that they had transferred the property in order to avoid their creditors and apply to the Court to have the transaction set aside. If this happens, it could affect your lender or a future buyer from you as they would lose the property and the lender may not get back what they have loaned to you. The Insolvency Act Indemnity Insurance policy only protects lenders such as JPMorgan or future buyers from you. If there is no mortgage and the outgoing owner is made bankrupt, there is a risk to you that you could lose your home if the transfer is set aside. The cost of the Insolvency Act Indemnity Insurance policy varies based on the valuation of the property at finalisation of the transfer of equity conveyancing.
Your property may be repossessed if you do not keep up repayments on your mortgage with JPMorgan.

Preparing the Transfer of Equity with a JPMorgan Mortgage

When it comes to preparing the the Land Registry documents your conveyancing solicitor should in the ‘consideration’ panel choose the first option, if consideration is given; otherwise ignore the consideration panel altogether.

If JPMorgan is joining in the transfer to release someone from liability, put the release in the ‘additional provisions’ panel if someone is entering into a covenant relating to the charge, place it in the ‘additional provisions’ panel stamp duty land tax is not payable when there is no chargeable consideration for the transfer (Schedule 3, paragraph 1 of the Finance Act 2003). In the case of a transfer subject to a charge (even if the transfer is by way of gift) or if a property has been transferred for no value and there is an associated discharge, HMRC would view this as an assumption of an existing debt by the purchaser (Schedule 4, paragraph 8 of the Finance Act 2003) and stamp duty land tax may be payable if you wish you may state in the ‘additional provisions’ panel that ‘This transfer is made subject to a charge dated… in favour of…’

On form AP1, your conveyancer should describe the transfer as ‘transfer of equity’ to assist Land Registry staff.

Information contained within this webpage is for general information and only applies to England and Wales. It should not be regarded as advice for members of the public who should contact their lawyer,mortgage broker, insurer and accountant for specific advice relating to transfer of equity. Whilst we endeavour to keep the information up to date and correct we do not make any representation or warranties of any kind about its completeness, accuracy, reliability or suitability. Any reliance you place on the information is strictly at your own risk. Lexsure will not be liable for any direct or indirect loss or damage arising out of or in connection with the use of this information.


Frequently asked questions relating to JPMorgan transfer of equity