Change of registered title from three to two

papatango_2

I own a flat jointly with my wife and my son, which is let out. There is no mortgage on this property. We have since helped him purchase another flat for himself and he no longer has any interest in this jointly owned flat so we wish to remove his name from the title deeds and there will be no payment involved. I know that I have to fill in Form AP1 and TR1 as well as ID1 for identity verification. Are there any other forms to fill in? eg Form RX3 and ST5? Can anyone help or the Land Registry rep please confirm?

Tiglet2

Yes, just AP1, TR1 and ID1 needed, together with the Land Registry fee (think it is £40)

dimbo61

Did your Son have to pay extra stamp duty ?

greatcrested

Presumably your son paid 3% 2nd property SDLT when he bought his flat.

There is no SDLT on the transfer of ownership of the let property as no money is changing hands.

Not sure if you have to complete a SDLT Return to HMRC stating zero SDLT to pay. Check the gov SDLT website.

edit: found it:

You must send an SDLT return if you pay more than £40,000 for a property - even if there’s no SDLT due. There are some exemptions.

https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

Land_Registry

papatango_2 said:

I own a flat jointly with my wife and my son, which is let out. There is no mortgage on this property. We have since helped him purchase another flat for himself and he no longer has any interest in this jointly owned flat so we wish to remove his name from the title deeds and there will be no payment involved. I know that I have to fill in Form AP1 and TR1 as well as ID1 for identity verification. Are there any other forms to fill in? eg Form RX3 and ST5? Can anyone help or the Land Registry rep please confirm?

Reads right. RX3 and ST5 would generally only be used if you were looking to cancel a Form A restriction 
I’m guessing you applied for one when you were all registered so if your Son is coming off is it needed? We can’t advise you on that 

papatango_2

Thanks very much for your prompt reply. Yes we did apply for the original ownership to be tenants in common, but having removed my son from the title register my wife and I wish to continue owning the flat as tenants in common. So would I be right to assume that in this case we would not need to complete form RX3 / ST5? I am not seeking advice, merely clarifying on the forms needed for my particular transaction. Thanks again.