Transferring a share in Property

Malcmandy

Advice please ?
I have been left a quarter share in a house. I would like to transfer half of my quarter share into my OH,s name in order to make use of both our CGT allowances when it is sold.
Is it possible to make the transfer without using a solicitor ? How would I do this ?
Thanx

a&akay

Ask the Land Registry by email. I have found them excellent. See reply to my query below.

Dear XXX
Thank you for your enquiry.
As long as the property is registered, the form to use to transfer the
legal ownership is TR1. When you send that in to us for registration it needs
to be accompanied by application form AP1 and a fee based on how much the transfer is for (see scale 1 of our fees on the fees order on the website, or scale 2 if there is no money involved).

You will also need to consider whether or not the Transfer will attract Stamp duty. If the transfer is for monetary consideration of more than £1000, you will need to complete form SDLT 1. If no money is changing hands, or the consideration is for less than £1000, you will need to complete form SDLT60. Both of these forms may be downloaded from the following site
www.inlandrevenue.gov.uk via stamp duty.
TR1 and AP1 can both be printed from the website.
If you have a mortgage you may well need the consent of the lender to any
transfer of ownership.
For details of which office to contact, please follow this link:- [FONT=Courier New]http://www.landreg.gov.uk/regional[/FONT]

If the land is not registered the situation is rather more complicated.
Please refer to Public guide 13 on the website and you may also wish to seek legal advice in the matter if this is the case.

Malcmandy

Thanx.

I actually went into the Land Registry Office in Plymouth on Friday, and the charming lady that I spoke to, didn't have the faintest idea of how to do it ! She even rang up other colleagues, but neither did they !!!!!!!!!!!

The property is registered, and no monies will be paid. There isn't a mortgage either.

Do I need to get the permission of the other 2 owners ?
Do I need to do a Deed of transfer ?

I am grateful for your answer.

a&akay

If the house is on Deeds and not registered see following. I got the Deeds from my solicitor and am currently following the advice below. You may need to pay the full costs if the others don't want to cough up!

Dear xxx

To make application for First Registration of the property you will need to apply on Form FR1. Land Registry will need to see the pre registration deeds and documents relating to the property and these should be listed on Form DL, which must be provided in duplicate. You may find it useful to download Public Guide 13 from the website using the link to Forms and Publications/Leaflets/Practice Guides. Your application will need to be lodged at the Nottingham West Land Registry office as they administer the area. You will need to contact that office (Address and telephone number is on the website) for their current completion times.

Land Registry would expect you to quote a current market value of the property and the registration fee payable would be based on the value stated. You do not need to provide proof of value.

I hope this information will assist

Yours sincerely

Ann Balshaw

Land Registry

Customer Information Centre

Malcmandy

She was able to bring up the house on the register and gave me the title no. I presume that I therefore can just go ahead. I'll let you know how I get on.
Thanx