Transfer of title with no sale

yknivag

Last year I purchased my father's house from him to allow him to complete on his own purchase without a chain.

For personal and family reasons I would like to transfer the title (and hence the beneficial interest) in this property to my brother. There is no mortgage and no other charges on the property.

As this is a transfer wholly within the family and there are no external factors or parties involved, I see little point in doing this as a formal sale and thus both my brother and I having to pay solicitor's fees.

Were the property freehold, then as far as I understand from the Land Regsitry website all we would need to do is to return forms, TR1, AP1 to the registry having both completed form ID1.

However the property is leasehold.

I assume that the only real difference (as there is something of the order of 800 years left on the lease) that the only difference is that we will need to notify the freeholder and pay their fee to update their records.

Does anyone know if this is correct? Or do we really need the services of two independent licensed conveyancers?

Thanks in advance.

Gavin.

yknivag

No one got any ideas or any comments?

xylophone

http://assortmnt.blogspot.co.uk/2011/11/gift-of-leasehold-property.html

http://www.99acres.com/ask-can-a-leasehold-property-be-gifted-if-yes-what-is-the-method-80148.html

http://www.landregistry.gov.uk/public/forms/completing-form-tr1
"Leasehold land: if your property is leasehold, there is usually a clause in the lease requiring the landlord to give his consent, or at least to be informed."

The above links seem relevant?

It might be as well to use a solicitor?

Land_Registry

It’s up to you whether you employ a solicitor but the forms you mention are all required – our website has links to how to complete forms AP1 and TR1.

Make sure you lodge evidence of identity for everyone who isn’t legally represented. Our Public Guide 20 has full details.
You did not mention Stamp Duty so we would just remind you to consider this if money is changing hands.

Lastly, it shouldn’t make any difference whether the transfer is of leasehold or freehold property, the lease should give detail of whether you need to inform the freeholder.

yknivag

Hi Land Registry Represetative and thank you for your reply.

The transfer of title would be "as a gift", no money is changing hands and so there is no Stamp Duty or issues regarding potential money laundering.

If what I read is correct all my brother and I need to do is to complete TR1, AF1 and one copy of ID1 each and then attend together in person at our local land registry office (Lytham I believe) to be identified and lodge the application.

Is that correct?

Land_Registry

If you intend to complete the application yourselves then that would appear to be correct.

Clearly we cannot be sure that everything is in order until you lodge the application so it is important that you have the relevant and completed forms and ID evidence with you.

Please ring 0844 892 1111 to book an appointment if you intend to visit one of our offices