Finding the relevant Fee and using the correct form

Hello Adam 

My father & mother in - law each own 50% of a property . The are transferring that property ( est value £200,000 )to their two grandchildren by way of sale in the sum of £1 . There are no outstanding mortgages attached to the property . I have completed TR1 together with ID3 forms for each of the parties to the transfer . I am a little confused as to which form I complete to submit by post the relevant fee . At first glance it appears to be a scale 2 AP1 scenario with a value of £200 rather than £1 ?

Kind regards 

Gareth   

Hello Gareth - form AP1 is always required when updating a registered title 
Complete panel 4 with the 'full current market value' and pay a Scale 2 fee on that amount

Duplicated