What is a transfer of equity?


Quick Answer

A transfer of equity is a change of ownership where one of the original owners stays on the deed or title. It is important to note that in a transfer of equity the ownership of the property changes hands without the property being sold.

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Full Answer

The primary reasons for a transfer of equity are marriage or divorce. If there is no mortgage on the property then this process is able to be done freely by the person on the deed. If there is a mortgage the equity can only be transferred with the permission of the mortgage lender. This is true whether a name is being added or removed from the deed.

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