Part transfer of land (TP1 form) DIY ??

wils757257

Hi

I purchased a plot of land which both me and my father built a house on. I now wish to gift a portion of the land to my father so he can sell his house. There is no mortgage on any of the land or houses concerned

I have asked the original architect to produce transfer plans for for submission to Land Registry

My understanding is that form TP1 needs to be completed and submitted along with the plans. I have initially contacted a conveyancer. I have been quoted £1000 (inc VAT) for what seems to be a minimum amount of work.

Has anyone done this themselves before ? As other than the last 2/3 questions it all seems straightforward.

I have brought this up with the "legal executive" and I'm told that;

"The TP1 will still need standard clauses to be included for the benefit of both properties to make sure it is acceptable to future purchasers and their lenders."

Can anyone other any advise on the standard clauses ? There is no particular rights that needs to be granted or reserved over the land no shared driveway. The pavement at front of the house will at some time be adopted by the council in due course and we have a bond covering this

G_M

wils757257 wrote: »

Hi

I purchased a plot of land
so you are the sole owner?

which both me and my father built a house on. I now wish to gift a portion of the land to my father so he can sell his house.
The house is yours, not his.

There is no mortgage on any of the land or houses concerned

I have asked the original architect to produce transfer plans for for submission to Land Registry and he's done this?

My understanding is that form TP1 needs to be completed and submitted along with the plans.
strictly it is the other way round: the plans need to be submitted along with the TP1!

I have initially contacted a conveyancer. I have been quoted £1000 (inc VAT) for what seems to be a minimum amount of work.
A TP1 is more complex than a TR1 (transfer of whole), hence the semingly high cost.

Has anyone done this themselves before ? As other than the last 2/3 questions it all seems straightforward.
yes many people have done this.

I have brought this up with the "legal executive" why the "..."? Is this person a legal executive or not? and I'm told that;

"The TP1 will still need standard clauses to be included for the benefit of both properties to make sure it is acceptable to future purchasers and their lenders." correct. and a coveyancer has a professional obligation to ensure all the 'T's are crossed.

Can anyone other any advise on the standard clauses ? There is no particular rights that needs to be granted or reserved over the land no shared driveway. The pavement at front of the house will at some time be adopted by the council in due course and we have a bond covering this

Without looking at the Plans, the current Title, and the proposed split it is impossible to advise. And that's what the conveyancer willdo.

However if you are confidant there is no legal barrier to DIY conveyancing.

Tom99

Don't overlook the tax situation. Since you are connected parties the gift will be deemed to be a disposal at open market value.
Income tax or CGT may be payable depending whether your development activity is classed as a trading one.

ethank

Without a full set of plans, no one can tell how easy a job this would be.

Did the builder have drainage direct from each property to the main, or does it cross under one property - if it does then they will need some rights reserved. You need to look at all of the services in and out of the property and do the same.

Personally, I would pay. 1000 seems expensive. Most conveyancers would charge half that for a standard purchase....