Tenant in common: selling my share

davemal

Thank you again

I have rang the land registry (helpful and friendly bunch)
and they say that if I copy the 3 bullet points, as is, ie word perfect,
onto the RX3 form, then that is enough for evidence.

Cheers
Dave
ps I think I will do a step by step diy guide when I get this signed over.
(the kind seen on car repair forums)
eg I would do a web page,
showing copies of the forms whichj need to be submitted etc, and the process of dealing with solicitors for ID forms etc.
These will only cover a very simple case like mine, ie no mortgage, house left in will to me and my brother.

At the beginning it seems overwhelming, but it is quite straight forward with a bit (a lot ) of help from the Land Registry dudes and dudesses :T

Land_Registry

davemal - glad you found our support team helpful and friendly

My only caveat to add is that an RX3 completed by You alone would not be sufficient - I may be being overly cautious but ..

You refer to 'I' above and whilst I am sure you and our team have been able to talk round the various issues in more detail than on here, it would help if you could clarify whether you are seeking to change the tenants in common aspect prior to or at the same time as the Transfer of legal ownership from 2 to 1?

dutchcloggie

OK. I have read all the information and I still don't get it.

The money is ready in cash. All it needs is SOMETHING official that simply says: The house is now hers and that she is the sole owner. She will then put the money in my account.


If I understand this correctly, we do not need a solicitor for this. (I have been quoted £550 + VAT by one of them!). I need to complete TR1 in which I transfer my share of the property to my sister in law.

But I apparently also need to complete another form, RX3? Surely when I put in TR1 that the property is now wholly owned by my sister in law, I do not need to address the tenant in common situation in a different form??

Davemal, it appears you are in the same situation as me: No mortgage, house left in will, now selling your half to the other person? If this is correct, can you please help me through the process? Or do you think I can do it myself with advise from the Landregistry?

Edit:
The title deed state: "RESTRICTION: No disposition by a sole proprietor of
the registered estate (except a trust corporation) under which
capital money arises is to be registered unless authorised by an
order of the court."

What the heck does that mean? Is that something I need to be aware of or is this standard for every property???


I am starting to think this is too complicated for me. I suppose it is easiest to use a solicitor but as a student, this money is needed to pay my university to the next 3 years so every penny I can save of it is vital.

Thanks.

Land_Registry

It is a complex area to deal with but I shall do my best to clarify things but it is important to remember that the tenants in common aspect can not only affect the legal title (Land Registry) but also the beneficial title (who has what share and who benefits etc) also.

Understanding the implications is important for both parties and to some extent the issues involved may have been explained at the time when you were both registered as legal owners?

The restriction you refer to to above is the form A restriction as mentioned previously and as explained in the Public Guide 18 - it is not standard to every property and appears in the circumstances as explained in the guide.

Completing a form TR1 along with the other forms AP1 and ID1 as explained in the completion notes deals with the change of ownership as registered with Land Registry.

A separate form RX3 is required to deal with the removal of the restriction. Transferring the title does not deal with the beneficial aspects which the form A restriction may or may not protect e.g. one of you may be holding the property in trust for a minor

A Transfer for value (cash in this case) between the two of you to just one will not deal with the tenants in common aspect i.e. the restriction would remain on the register after the Transfer has been registered. This may not be an issue for you as the 'outgoing' owner but the remaining owner would need to deal with it at some point in the future and in many ways it may be simpler to do so now.

To remove the restriction we would need a formal application to cancel it, accompanied by evidence to show that the restriction is no longer required.

The evidence that we usually accept is a statutory declaration or statement of truth by the transferee (the person remaining on the register). The declaration or statement should:-

1. explain what has happened to the beneficial interest protected by the restriction;
2. if it has devolved to the transferee, explain how this happened;
3. confirm, if it is the case, that no-one other than the transferee has a beneficial interest in the property; and
4. confirm, if it is the case also, that no beneficial interests have been encumbered

Alternatively you can add the above points to panel 11 of the form TR1 but a form RX3 is still also required.

NB - we will accept a certificate by a conveyancer acting for the applicant instead of the declaration or statement, or the conveyancer can complete form RX3

PG18 helps to explain some of the issues involved and whilst each point may seem overly complex completing the forms/application may be relatively straightforward providing you understand the terminology and process involved.

Understanding the importance/relevance of the tenants in common aspect and it's impact is a separate issue and not always simply a case of dotting the is and crossing the ts and that is where the legal advice comes in.

dutchcloggie

Aha. The restriction now makes sense. My late wife held her sister's half of the property in trust until she turned 18. She is 20 now so the restriction can be removed as I am selling my late wife's half to her sister. I inherited my wife's half so nothing was explained to me. The probate solicitors just changed the title deeds to me and my sister in law. I paid them a lot of money NOT to have to be involved in anything legal ;-)


Thank you for the step by step guide. I will try and do it this week and get a solicitor if I am not sure. I am thinking that my sister in law and I could surely use the same solicitor to complete all these forms on behalf of both of us as it is merely a matter or completing all the forms?

davemal

Thank you so much, Land Registry Representative.

Just an update,
I am now the proud sole owner of the property *yay* :j

I did all the forms myself,
only using a solicitor to witness the ID1s (for a fiver each)
Total cost ...about £55 ...jobs a good un.:beer:

It took about 4 hours to do the forms from scratch...
if I had to do the same again, it would take half an hour,
as 80% is filling in names and addresses.

Good luck to all , who are giving it a go...it is not rocket science !

Strot

I am trying to write a statement of truth to remove a restriction. It has been returned and they are asking for more information.
After reading the posts. I did not include point 4. Incumbency. I don't understand it.
I intend to re mortgage

Please help