Gifting of part of property prior to house sale

Hello I own a house with my parents, as tenants in common, with unequal shares. Sadly both my parents have passed away recently. I have not yet updated Land Registry with this information. I am the executor for their wills and have probate issued. Their wills require their share of the house to pass to their grandchildren. So I plan to sell the house to allow their share of the funds to be distributed as per their wills. But first I want to gift (transfer) a part of my share to my husband (to reduce my capital gains tax) Can you please advise me how to complete TR1 ? Specifically I want to understand whether I include the names of my deceased parents as transferor (box-4) and transferee (box-5), and whether I add their names and % share of house ownership to box 10 & box 12 Or do I need to send the LR form DJP for each of them and then exclude their names from the TR1 ? My thanks for your guidance on this matter

Hello Angela - the Transferor would be you as the legal ownership has passed to you as the sole surviving joint owner to deal with. You would not include the names of your deceased parents in the Transfer but we would need certified copies of their death certificates or probates to confirm their passing. You can use the form AP1 and no need for form DJP. Complete panel 4 to refer to DJP x 2 and then Transfer for example

Land registration is complex, designed to protect legal and financial interests in property. There can be significant consequences for any error. Please consider seeking legal representation. Before making an application without legal representation, it is important to consider the benefits of using a conveyancer. https://www.gov.uk/guidance/making-an-application-without-legal-representation

Hello Adam Thanks for your reply, very helpful But the final sentence ...Complete panel 4 to refer to DJP x 2 and then Transfer for example... I assume you mean panel 4 on AP1, so what does the 'refer to DJP x 2 mean ? Sorry for not understanding

Angela - I do DJP is short-hand for death of joint proprietor. You referred to the form DJP in your post but as you are submitting a form AP1 plus TR1 and ID1/ID3 forms re identity verification you don't need separate form DJPs as well. But you can use the acronym in panel 4 of form AP1 or if you prefer put "Deaths of other joint owners) or similar

Dear Adam Again that is very helpful, my thanks. I have one further question re box-10. of TR1 I believe TR1 should state the % ownership of the tenants in common, when there are unequal shares. My parents owned 30% each and I own 40%. I want to give half of my share to my husband. So my husband & I will each own 20% of the house. How do I refer in box-10 to the % ownership of my late parents (noting you say above that I should not include their names in the Transfer) ?

Angela - how you complete panel 10 is up to you. If you want to specific the shares you can do so and add whatever detail you want. From a registration perspective we will update the register re the deaths and change of ownership and the existing form A restriction will remain on the register. The restriction protects the wills/trust/shares already created and which still exists albeit the legal ownership has been changed

Please do consider seeking legal/financial advice to confirm your own understanding of the benefits of transferring into your joint names as well as how the beneficial ownerships/shares work. The legal ownership, which we register, and beneficial ownership are two distinct topics to consider. I'm not suggesting you shouldn't do what you are doing or implying that you don't have the skills to do so Just want you to be absolutely certain with regards what your options are here and what's 'best' to fit the outcomes you want