We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Transfer of equity from joint to single ownership
Options
stephanie_says
Posts: 8 Forumite
Hello,
I got divorced recently and my ex-husband and I agreed to transfer equity in a jointly owned flat into my sole ownership. I understand we need to complete form AP1 and ID1, but do we need form TR1 (whole transfer) or TP1 (part transfer)? There is no mortgage on the property.
Also, I understand there's no stamp duty payable when a transfer of equity is carried out as part of a divorce, but is there a deadline within which the transfer needs to be complete in order for this to apply, e.g. within a certain amount of time from the decree absolute?
I would be very grateful for any advice, thank you!
I got divorced recently and my ex-husband and I agreed to transfer equity in a jointly owned flat into my sole ownership. I understand we need to complete form AP1 and ID1, but do we need form TR1 (whole transfer) or TP1 (part transfer)? There is no mortgage on the property.
Also, I understand there's no stamp duty payable when a transfer of equity is carried out as part of a divorce, but is there a deadline within which the transfer needs to be complete in order for this to apply, e.g. within a certain amount of time from the decree absolute?
I would be very grateful for any advice, thank you!
0
Comments
-
Are you physically dividing the flat, or transferring the whole flat from joint to single ownership?Sooner you do this the better. Just look at the other thread!0
-
It's TR1 you'll need as your are transferring the whole property from joint names into sole ownership.TP1 is for when you are splitting the title into parts to by owned by different people.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards