Transferring property

sabelu

Hi,
Is it simple to transfer ownership of property through the land registry using a TR1 and what costs/duties are payable?

Land_Registry

It can be straightforward and our online guidance links you to the registration requirements inc forms and fees for applying

There are though often wider issues to consider around a sale or transfer to a family member and these are best considered with a legal/financial adviser

rabialiones

hi, sorry to hi-jack thread , but i have been looking at this as well, when selling to family member, can it just be done this way instead of having to pay exorbitant solicitors fees

sabelu

rabialiones wrote: »

hi, sorry to hi-jack thread , but i have been looking at this as well, when selling to family member, can it just be done this way instead of having to pay exorbitant solicitors fees

you hi jack away no prob

JJ_Egan

I just did a transfer on death of registered owner and a transfer to my name no problems .
Follow the online advice and LR has a forum .
Read the info at least twice and print off 2 copies of the forms so as you can be sure the finished article is correct tick instead of x etc .

Land_Registry

The forms and registration process can appear very straightforward and some people do complete the process themselves - using a solicitor or conveyancer is not compulsory.

However they are familiar with the processes involved and where monies are changing hands you need to ensure that is done securely and correctly. Where a lender is also involved they will insist on your using a professional as the risk of fraud, to them. for example is lessened.

The fees can appear exorbitant but you are paying for their professional expertise and experience and with the added bonus that if something does go wrong you have someone other than yourself who is culpable

The choice though is entirely yours where no mortgage lender is involved

marbella

I don't have a mortgage and wanted to transfer ownership to my son, would this just be straightforward.. Thanks

zygurat789

marbella wrote: »

I don't have a mortgage and wanted to transfer ownership to my son, would this just be straightforward.. Thanks

It could prove to be expensive.

Keep_pedalling

marbella wrote: »

I don't have a mortgage and wanted to transfer ownership to my son, would this just be straightforward.. Thanks

The transfer should be straight forward, but there could be serious complications associated with your reasons for doing this.

marbella

Oh ok it might be a good idea to talk to my solicitor first. Thanks for the advice

zygurat789

sabelu wrote: »

Hi,
Is it simple to transfer ownership of property through the land registry using a TR1 and what costs/duties are payable?

So what was your reason for wanting to do this?