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TR1 (conveyancing)

oz0707
oz0707 Posts: 914 Forumite
Part of the Furniture 500 Posts Name Dropper Combo Breaker
in House buying, renting & selling
On form TR1, when transferring from myself to a company how do I fill in question 8 (consideration)

Say I am transferring the property to the company for £100 but am doing it as I directors loan, Do I tick the box which says I have received the following sum and insert £100?

Thanks...

Comments

  • Richard_Webster
    Richard_Webster Posts: 7,646 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    On form TR1, when transferring from myself to a company how do I fill in question 8 (consideration)

    Say I am transferring the property to the company for £100 but am doing it as I directors loan, Do I tick the box which says I have received the following sum and insert £100?

    Thanks...

    Yes, you do. Price and loan and are separate transactions, although related - like Council selling house to tenant and lending part of the money to him as they did in the old days.
    RICHARD WEBSTER

    As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.
  • oz0707
    oz0707 Posts: 914 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Thanks, the accountant can deal with the loan part another time.
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