What Is Consideration? - MG Legal

MG LegalSolicitors Longridge: 01772 783314 Garstang:01995 602129 Lancaster:01524 581306 Lytham: 01253 202452 Email: [email protected]

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What is consideration? The consideration is to be marked within the transfer deed and, essentially, means what will be exchanging hands in consideration of the transfer of ownership taking place. In most cases, property is transferred for an agreed sum of money, based upon its current value. In some cases, however, property can simply be gifted, or transferred as an act of love and affection, which would mean the transfer is made with no consideration. Whilst, on the face of it, this phrase may seem to suggest that the transfer is being made without careful thought, the aim of this clause is quite the opposite. This section of the deed is required to reflect what the parties have agreed and, therefore, should be carefully considered before proceeding to completion of the matter. Get in touch today to get your fixed fee property conveyancing quote CONTACT US MG Legal's leading property solicitors offer fixed fees on all property conveyancing matters. Fixed-fee Conveyancing Solicitors: MG Legal's leading coveyancing solicitors offer an unmatched service, and clear, fixed-fee rates. Our team put your first, and work with care to ensure that your property matters go smoothly, with no hidden costs. Call us today so speak to a conveyancing solicitor: 01995 602129 Get in touch today to speak to a Conveyancing Solicitor. Contact Us Here Our site uses cookies. For more information, see our cookie policy. Accept cookies and close Reject cookies Manage settings