Signing of TR1 document

voyagerbear

Hi, we are overseas and selling our property in UK. The solicitor has emailed the contract and the TR1 document. The TR1 states that we have received the funds. When I questioned this, that is, we do not want to sign as we have obviously not received them as contracts have not even been exchanged, they told me that it would be kept on file until we authorise them to send it. They just want it ready.

My husband still does not want to sign.

I have looked this up online and as far as I understand, this can be done after exchange of contracts.

What is the usual procedure for this in our situation?

Thanks.

anselld

voyagerbear wrote: »

What is the usual procedure for this in our situation?

The usual procedure is to sign things in advance and trust your Solicitor to utilise them at the appropriate time.

If you don't trust your Solicitor you should get a different one.

davidmcn

The deed needs to be handed over in exchange for the money i.e. simultaneously. So either you trust the solicitors to deal with it, or you all turn up and sit in a room while it happens. Yes, it only needs to be signed for completion, but what's the problem with signing before exchange?

Thrugelmir

voyagerbear wrote: »

I have looked this up online and as far as I understand, this can be done after exchange of contracts.

An unsigned contract is not a contract. It's a worthless piece of paper with words on.

You'll need to travel back to the UK to sign the documents at the appropriate time. Possibly at very short notice.

TBagpuss

You sign it. You give it to your solicitor. Your solicitor holds it.
For completion, your solicitor confirms to the buyer that they hold a signed TR1 and gives an undertaking to release it in return for the money.
In the same way, the buyer's solicitor gives an undertaking that they will pay over the money.

If your husband isn't happy with this then he needs to prepare to travel to the UK at short notice. And you will probably need to exchange and complete on the same day as the solicitor won;t be willing to give an undertaking they can't guarantee to fulfil.
And if he does all that he will *still * have to sign before any money is actually paid over.

G_M

Sign the documents but don't date them.

Your solicitor will hold the signed documents till the appropriate time(s), then date them and pass them to the other side.

If you change your mind at any point, you simply instruct your solcitor not to proeed.

The legal profession has strict regulations about how they operate and what they do.

You could, of course, sack your solicitor and do all the conveyancing yourselves. You could then old off signing anything until the precise moment when your
a) receive the contract from the other side ad
b) receive the cash from the other side.

But you'd have to be there in person of course.........

ThePants999

OP, this is part of why we use solicitors in this process. Not just for their legal knowledge, but because they're held to high standards and accountable to their professional body, so they can be trusted by everyone involved. So when they say to you "you can sign this TR1, we won't use it until we have the money", you can trust them. When they say to your buyers "we have a signed TR1, you can send us the money", the buyers can trust them. Being able to rely on solicitors and their undertakings greatly facilitates the whole process.