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JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10275
Experience:  30 years as a practising solicitor.
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We recently swapped homes with my mother-in-law and now wish

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We recently swapped homes with my mother-in-law and now wish to make it official by changing the names on the deeds. We have a mortgage which we'll transfer to the new house, my mother-in-law has no mortgage. There is a difference in value between the properties of about £30k, but no money will change hands. We just wish to transfer ownership or our house to my mother-in-law, and ownership of hers to us.

How would we go about this?
Thank you for your question.

The mortgage on the old house has to be paid off so what you have to do first is apply for a mortgage on the new house. You can't just transfer the old one although the existing lender may allow you to get the same deal depending on the terms of your existing loan.

Once you have a mortgage offer it is a question of you granting a deed and delivering a discharge of the mortgage to your mother in law and her granting a title deed of her house to you.

It is essentially two conveyancing transactions without a price being paid.

As you are members of the same family you can can use the same solicitor to act on each side of the transactions.

Happy to discuss further.

I hope this helps. Please leave a positive response so that I am credited for my time.
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