There are a number of different situations where one or more parties on a title will want to transfer their share(s) to other owners or to third parties.
Often this will involve what is known as a “related party transaction” and in most cases won’t involve a formal Contract of Sale.
When undertaking this type of transaction it is crucial that you get both legal and financial advice before proceeding as there can be adverse tax or stamp duty implications, which might result in you not proceeding with it or structuring it in a more effective way.