Forms required by Land Registry for lease & equity transfer from joint to one name following divorce

Somerset_Alan

Land_Registry said:

Everything will be generally applied for together so you need to establish how the lease is going to be dealt with as well. If it's a Transfer of equity then forms AP1. TR1 and ID1 are needed plus the lender's involvement and consent
The lease might be dealt with separately re a deed of assignment then but that wouldn't change the actual registered details re the original lease as it's still in play
The conveyancer, who the lender will insist on your using, will pull it all together and submit as appropriate

OK, going to see the conveyancer and talk it over - get registration all done together (but see below for Deed of Assignment, dealt with separately). 

Thanks for confirming the forms.  Just for completeness of my own understanding, is there no additional form needed to amend the "particulars of the lease", where it shows the parties to the lease - one of whom should be removed?

chalky_white_2 said:

The registered shared ownership lease is the 'tenancy'. By dealing with assigning the registered title into the sole name (which would include dealing with the HA's requirements, such as the licence to assign), then the tenancy aspect is also dealt with.

You should look to:

1. Obtain the consent order from the courts - the Court is the final arbitrator and can overrule what is 'agreed'.

Seems strange to me, despite children being involved, no consent order was made by the court.  Thus all financial matters have been negotiated separately, after the divorce final order. 

2. Confirm the sale terms with the insolvency practitioner, as they may object to any payment below market value. Monies owed to you should be treated in line with all other creditors owed money, and not take a preference. However, they may be unable to object where the transfer (and payment) are in accordance with a court order.

This is an ongoing concern.  The ex-partner has repeatedly attempted to contact the IP but has had no response.  If the IP objects to the agreed price for the reasons you've spelled out, can this stop the transfer, or will it "just" void the IVA and open ex-husband to action from the creditors?  [As a side note although ex-husband has not been open with details of his debts, I think the agreed consolidated debt under the IVA is less than the agreed price for the equity transfer, so it might be less of an issue.]

It may be worth checking if another solicitor on the new mortgage lender's panel can assist with the transaction, as they must complete simultaneously. To note, while the HA and new mortgage lender may not state simultaneous completion, this will be the case because (1) the HA does not care if it completes, only that you comply with documents it requires on any transfer and (2) the lender will have a condition in the offer that the Borrower is the legal proprietor, which requires the transfer to complete.

Sorry, I'm still not clear whether all three actions need to take place on the same day.  The actions as I see them are:

1.  Paying off the mortgage in two names and taking up a new mortgage in single name;

2.  Buying out the ex-husband;

3.  Removal of ex-husband's name from parties to the lease.

I can see how the mortgage lender will require (1) and (2) to occur together, but can (3) be done separately?  At the moment, an Assignment of Lease for the tenancy from dual tenancy to single tenancy has been signed and witnessed, and is now being submitted to HA (shared ownership landlord) for them to amend the lease.  My assumption is that this can be handed over to the conveyancer so that all appropriate papers can be submitted to LR together.

5. Submit the transfer and new mortgage deed to HM Land Registry (the existing lender should notify Land Registry directly of paid off mortgage) and notify the HA that the transfer has now completed and provide a copy of the dated licence to assign and 'notice of transfer and charge'.

I don't think a Licence to Assign is needed... I believe that depends on the terms of the lease?  HA hasn't made any mention of this.  They might want a Notice of Assignment, but again they haven't said, so at the moment we just have the Assignment of Lease, sent to them for landlord's notice (and agreement).

Reviewing the correspondence I've realised the HA hasn't made any mention of the tenancy aspects of the shared ownership - the documentation they want to see is the evidence of transfer of ownership, i.e. the completion of the conveyance.   So maybe the conveyancer was wrong to say that an Assignment of Lease, at additional cost, was needed.

Hoenir said:

Switch to another solicitor on the lender's panel. 

It is very tempting - the existing conveyancer seems to be clueless - but it would be bound to cause yet more delay and more costs.  Separately considering a formal complaint.

Land_Registry

The original details re the lease, so the named parties, date etc would not be altered on the current register
If the changes you are proposing lead to a NEW lease being granted then the old one can be closed (determined) and a new one registered under a new title
This specific aspect will come out in the wash after you have solved the other issues you are referring to so I would see where they all take you first before realising what's happening re the old or a new lease as appropriate

chalky_white_2

The particulars of lease never alter while the lease exists. This is simply how the document that created the leasehold interest is described for clarity. It will remain for the 100+ years of term, unless ended as mentioned above.

You are seeking to change the names recorded in the proprietorship register, which shows the current legal owner(s).