Title splitting is when a freeholder wishes to divide their property, and reallocate its ownership accordingly. When it comes to splitting the title of your freehold, our cross-sector expertise makes South East Leasehold your ideal partner.
There are many reasons why title splitting may be required, but typically our clients come to us when a portion of their land is going to be used for a secondary development, which will need to be treated as separate from their home. Often the land is being prepared for future sale, either to a commercial developer or when a private building is sold off to a third party. In other cases, we see estates being divided between multiple business partners, or ownership being passed to a relative for their own use.
How is title splitting granted?
Title splitting is granted by the Land Registry on a case by case basis, so presenting your intentions clearly and concisely is paramount for a smooth application. There are different considerations for private and commercial property, so you should be clear about if (and how quickly) you intend to sell the title, or whether you will keep ownership of the land, but as multiple parcels.
Mismanaged title splitting can lead to complicated and significant financial implications for landowners, with capital gains tax and income tax laws coming into effect. While some freeholders may be advised to treat their development plans as a business, and set themselves up as a limited company, this may not apply to all cases, and professional advice is recommended.
Contact us today
At South East Leasehold, our experienced agents can guide you through the technical and legal requirements for both private and commercial property plans, and will help you to establish the most beneficial process for splitting your land title.
If you need assistance with title splitting, please call our office today on 0208 832 9069.