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What value in land registry
V2001
Posts: 248 Forumite
Hi
I own a house with my parent. We own it as tenants in common 50/50
The total worth of the property is £550k. So I'm now buying her half share out for £275k and will take complete ownership.
On the land registry what value is recorded??. Is it total value of house at 550k or the half share at 275k?
I own a house with my parent. We own it as tenants in common 50/50
The total worth of the property is £550k. So I'm now buying her half share out for £275k and will take complete ownership.
On the land registry what value is recorded??. Is it total value of house at 550k or the half share at 275k?
0
Comments
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You transfer the whole of the legal ownership so the two of you will transfer the whole to just you.V2001 said:Hi
I own a house with my parent. We own it as tenants in common 50/50
The total worth of the property is £550k. So I'm now buying her half share out for £275k and will take complete ownership.
On the land registry what value is recorded??. Is it total value of house at 550k or the half share at 275k?When you apply you should state the full market value of the property. We will record the full valueIf you have a form A restriction on the title and you are going to be the sole legal and beneficial owner you may want to apply to cancel it using a form RX3 and ST5 when you transfer the legal ownership.“Official Company Representative
I am the official company representative of Land Registry. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"1 -
Land_Registry said:
You transfer the whole of the legal ownership so the two of you will transfer the whole to just you.V2001 said:Hi
I own a house with my parent. We own it as tenants in common 50/50
The total worth of the property is £550k. So I'm now buying her half share out for £275k and will take complete ownership.
On the land registry what value is recorded??. Is it total value of house at 550k or the half share at 275k?When you apply you should state the full market value of the property. We will record the full valueIf you have a form A restriction on the title and you are going to be the sole legal and beneficial owner you may want to apply to cancel it using a form RX3 and ST5 when you transfer the legal ownership.
So after the transfer is done to my sole beneficial name, if I was to request a copy of the land registry title it will state the total value of the property rather than the half share it was bought at?
Yes there is a form a restriction on the title we will need to remove at the same time0 -
Yes if it was clear from your application what the whole value wasV2001 said:Land_Registry said:
You transfer the whole of the legal ownership so the two of you will transfer the whole to just you.V2001 said:Hi
I own a house with my parent. We own it as tenants in common 50/50
The total worth of the property is £550k. So I'm now buying her half share out for £275k and will take complete ownership.
On the land registry what value is recorded??. Is it total value of house at 550k or the half share at 275k?When you apply you should state the full market value of the property. We will record the full valueIf you have a form A restriction on the title and you are going to be the sole legal and beneficial owner you may want to apply to cancel it using a form RX3 and ST5 when you transfer the legal ownership.
So after the transfer is done to my sole beneficial name, if I was to request a copy of the land registry title it will state the total value of the property rather than the half share it was bought at?
Yes there is a form a restriction on the title we will need to remove at the same time“Official Company Representative
I am the official company representative of Land Registry. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"0
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