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Transfer of Equity and TR1 Form
Nick_203
Posts: 2 Newbie
Hi there,
1st time poster here, often get great advice on search but sadly this particular query hasn't been asked before...
I'm doing a TR1 for for a simple transfer of equity to put my partner on the Title. I wanted to check that I am following the right process.....
Under section 4 "Application, Priority Fees" it looks like I have to select "Transfer of Part for Value" which looks like it carries a fee of £230!
My solicitor said that the registry fee should be £40 - have the fees increased? I don't recall having to pay so much in a previous transaction.
Any advice welcome
N
1st time poster here, often get great advice on search but sadly this particular query hasn't been asked before...
I'm doing a TR1 for for a simple transfer of equity to put my partner on the Title. I wanted to check that I am following the right process.....
Under section 4 "Application, Priority Fees" it looks like I have to select "Transfer of Part for Value" which looks like it carries a fee of £230!
My solicitor said that the registry fee should be £40 - have the fees increased? I don't recall having to pay so much in a previous transaction.
Any advice welcome
N
0
Comments
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You want transfer of whole fees not transfer of part.
Presumably you don't have a mortgage on the property?2 -
transfer of part (TP1) is where part of a property title is being transferred (eg someone sell their garden).transfer of whole (TR1) is where ownership or the whole title is being transferred into new ownership.1
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Apologies for jumping in.
I want to add spouses name to my BTL as joint tenants, is it still TR1 and whole title?0 -
I don't have a mortgage, so have done the transfer of whole. thank you.0
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Are there any CGT considerations?0
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Hi Nick_203
Apart from TR1 which other forms you used and for ID1 who witnessed the form
Thanks0 -
samal said:Apologies for jumping in.
I want to add spouses name to my BTL as joint tenants, is it still TR1 and whole title?
Unless you decide that spouse will own downstairs, and upstairs will be on a new LR Title that you will own, then yes TR1!
1 -
tempting
0
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