Just checked Land Registry and my house is back in my name :-)

hopefulfooluk

Esoog wrote: »

Is there any reason why a mortgage company would object?

Not if they know what's good for them! It's in their interests to consent really as if they don't theoretically you could dump them in it by walking away from it and not paying any shortfall.

Esoog wrote: »

Same situation here, my girlfriends ex-husband is BR and I am buying the BI. I can't see him signing anything; he flat out refused to play ball with anything during the divorce and is quite frankly a waste of space. I assume the OP of this topic didn't have to do it since they were the only party involved?

The way I see it is that when he went BR he lost all rights to have a say - that's why the BI transferred to the Official Receiver. Therefore if we are purchasing the BI from the OR why would the ex need to sign anything? He has no interest. Surely just the signature of the OR will suffice?

If the Land Registry ask us to do the same the first thing I'll be doing is ringing the OR/RTLU and asking them about it. If its correct then possibly the OR could force him to sign it? Or is it outside his powers?

You're right, I didn't have to do this as I was the sole owner of my property. However it's slightly different in your case as legal title will still rest with your partner's ex - it's just the beneficial interest which you are transferring to you. Have to say I don't know the answer to this - I would think that the ex would need to consent but you'd need to clarify with the land registry.

Try it without first - the worst they could say is that you need his signature, and then you can cross that bridge.

Cheers,

Chris

debtinfo

yu are correct in that it is just the BI not the legal title so the bankrupt retains control of the property. Generally the OR's position is that if the joint owners cant agree then they won't sell it to anyone and so can not be seen to favour anyone.

Esoog

Ah good, I'm getting confused. So for the transfer of the BI we don't need his signature? I did realise for the transfer of the title we do, but thats to come later along with getting his name off the mortgage.

hazysunshine

hopefulfooluk wrote: »

1) Got offered the BI from my OR and told them I would like to buy it back. Sent them a cheque to cover their solicitors fees (~£470) and the BI amount (£1).
2) OR got their solicitor (TLT) on the case
3) TLT asked me who my solicitor was - I emailed them saying I was representing myself and to forward paperwork directly to me
4) TLT sent a draft transfer deed to me which I signed and sent back
5) I wrote to and obtained written consent to the transfer from my mortgage company (GE money)
6) TLT sent the transfer deed back to me signed by the OR, complete with a copy of my bankruptcy order and proof that the OR was dealing with the property. They also included a Land Registry TR1 transfer form for me to complete.
7) I completed the TR1 form with the help of this website.
8) I requested an SDLT1 form from the inland revenue (you must complete one of these even though no stamp duty is payable). It comes with quite a useful book explaining how to fill it in.
9) I returned the TR1 form together with the transfer deed, letter from mortgage company consenting to the transfer, copy of my bankruptcy order and the other documents sent to me by TLT, to the Land Registry office in Gloucester. I had to include a cheque for £50 to cover the registration fee (check with them what the current fee is before you send one yourself).
10) I returned the SDLT1 form to the Inland Revenue which indicated no stamp duty was payable

Hey Chris, is this the right link to complete the SDLT1 online? http://www.hmrc.gov.uk/sdlt/return/paper.htm

Thanks

HazyS

hopefulfooluk

hazysunshine wrote: »

Hey Chris, is this the right link to complete the SDLT1 online? http://www.hmrc.gov.uk/sdlt/return/paper.htm

Thanks

HazyS

That's right - fill in the request page here:

http://www.hmrc.gov.uk/contactus/staustellform.htm

and you can request an SDLT1 be sent to you (just list it in the forms you require bit). I requested 2 in case I messed the first one up!

Cheers

Chris

Darnit_2

Folks, I am a bit confused. I thought I would have to follow all these steps, but TLT appear to have done the land registry bit for me.

After reading the booklet that comes with the stamp duty form, I am not convinced the sale of BI isn't exempt, due to the value of £1?

hopefulfooluk

It is exempt as £1 is £249,999 short of the stamp duty threshold of £250,000 or whatever it is this week.

What makes you think TLT have done the land registry bit?

Darnit_2

The letter says so......

Darnit_2

hopefulfooluk wrote: »

It is exempt as £1 is £249,999 short of the stamp duty threshold of £250,000 or whatever it is this week.


Ah, so i am reading "exempt" as being, I don't have to do anything, whereas, I have to tell them anyway even though there is no charge? is that right? What happens if I don't do it, as I am sure many who have gone before probably didn't know they were supposed to?

ian_h

Hi Darnit

I've spent hours poring over these forms the last couple of weeks because I live in a leasehold flat which made the options less straightforward.

The Land Registry need the certificate that the Inland Revenue will issue so if you didnt supply one I assume they would reject the paperwork until it was included.

And despite all the bumf the Imland Revenue send with the submission form and handbook saying "do it online" - you cant as an individual, so it has to be a paper submission followed by a wait for the certificate to come back.

Good luck