Land registry - Transfering ownership

traineepensioner

Mum died earlier this year and left me and my brother her share in the family home.

There is no mortgage on the house and it's held as "tenants in common", with equal shares between my mum, my brother and me. My brother and I are both executors & beneficiaries of mum's will and we have grant of probate. I understand that we need to complete form AS1 to remove mum's name from the register. However, I would also like to relinquish my interest in the house and transfer full ownership to my brother, who is living there.

What additional forms are required and can this all be completed at the same time? Are there any fees for the transfer? Is this something we could do ourselves, or do we need a solicitor? Do we need to pay stamp duty?

Thanks in advance for any info' or advice.

G_M

What to do when a property owner dies

traineepensioner

Thanks G_M,

I did look at this site earlier.... So, if I've got this right
(1) I need to complete AP1 (not AS1 as I thought)
(2) Also to complete TR1 (to remove my name from the registry)
(3) Send the the appropriate stamp duty land tax certificate or self-certificate... This is where I'm stuck Do I need to pay stamp duty? or where do I get a self certificate? HMRC say that SDLT60 are no longer required!
(4) Send appropriate fee ..Also stuck here (the calculator asks for transaction value). Is there a fee for each completed form?

Has anyone recently completed this type of transaction with the land registry?

Thanks again

booksurr

there is no mortgage so there is no chargeable consideration when your share is transferred to your brother so no SDLT is due. A transfer not on sale or one for less than £40,000 does not require any stamp duty form[/url]

as for fees, use the LR calculator to work it out
http://www.landregistry.gov.uk/professional/fees/fees-calculator

also note if you do the AP1 and TR1 yourself you must complete the ID1 form - this must be signed by ether a solicitor/conveyancer or a member of Land Registry staff. the LR will not accept the forms without an ID1 - clearly a solicitor will charge a (small) fee for signing such a form

I take it that you do not live there and that you are already a part owner before your mother's death?
as such the transfer from you to your brother is a disposal of your share of a property which is not your main home and so is liable to Capital Gains tax under the "transfers to connected person" rule. It would appear that your share comprises the 1/3 you already owned before mothers death and the 1/6 that you inherited when you recently got mother's share (ie 50% of her 1/3)

you (not your brother) will therefore be liable for CGT even if no money changes hands

Mojisola

traineepensioner wrote: »

Mum died earlier this year and left me and my brother her share in the family home.

There is no mortgage on the house and it's held as "tenants in common", with equal shares between my mum, my brother and me. My brother and I are both executors & beneficiaries of mum's will and we have grant of probate. I understand that we need to complete form AS1 to remove mum's name from the register. However, I would also like to relinquish my interest in the house and transfer full ownership to my brother, who is living there.

You will be, in effect, giving your brother money. If you are receiving any means tested benefits, giving away capital could be a problem.

traineepensioner

Thanks again for the replies so far.

"as for fees, use the LR calculator to work it out
http://www.landregistry.gov.uk/profe...ees-calculator" OK, I think I'm getting there The AP1 form is an "Application to change the register", this is called "alteration of the register" on the fee calculator. Fee = £40. Straightforward enough
The TR1 form is a "transfer of whole of registered title(s)". Is this called "Transfer of registered land - not for Value" on the fee calculator? If so, then the fee is "Scale 2 & variable". I've read http://www.landregistry.gov.uk/__data/assets/pdf_file/0008/75671/REGSERVFees_3_2014.pdf a copy of times and I'm no wiser.

The house was professionally valued at £190,000 in 2004 (when changed to tenants in common) and was valued at £180,000 for probate earlier this year. I've assumed that there is no CGT to pay.
I've never lived in the house and I'm not on any benefits. I'm just looking to sign it all over to my brother.

Thanks for the info regarding the ID1 form. Yet another thing that requires a solicitor:(

Land_Registry

If there is no consideration/sale price then it would be a Transfer not for value as you suggest. The £180K valuation from earlier in the year can be used and add this to the form AP1 as well.

You mention that you are dealing with her share and now refer to 'when changed to tenants in common'. Is the property registered in joint names by any chance?

If it is then it is likely that the surviving joint owner would need to transfer the title to themselves and your brother. You cannot transfer/assent a half share.

traineepensioner

"You mention that you are dealing with her share and now refer to 'when changed to tenants in common'. Is the property registered in joint names by any chance?
If it is then it is likely that the surviving joint owner would need to transfer the title to themselves and your brother. You cannot transfer/assent a half share." Thanks for your reply...There are 3 names on the land registry, My mum's (deceased), my brother's and mine. My brother and I have become the surviving joint owner(s) (tenants in common). Prior to my mum's death we all had equal shares.

Do you mean we need to transfer mum's share first, so that we both own 50% and only then can I sign over my share to my brother? or can this all be completed at the same time?

Land_Registry

Thanks for the clarification. If you are both named then you can Transfer the registered title using form TR1 as mentioned. The two of you are effectively transferring to just you as a result.

We will require a certified copy of your mother's death certificate or probate to be lodged though at the same time.

traineepensioner

OK, now I think I've got it sorted.:cool: Many thanks to those that replied :beer:

For anyone else with a similar query the land registry have produced some very useful Youtude videos.

For advice on completing the AP1... www.youtube.com/watch?v=BeWNb8XAn4c

for the TR1....www.youtube.com/watch?v=nIpPHDUAae4

and for the ID1...www.youtube.com/watch?v=jKyZfCjlXbw