Correct forms/process

3 siblings have inherited an equal share in a house. We are considering 2 options and would like to know the correct process/forms for each option and implications on stamp duty. 

Option 1. One of siblings buys other 2 siblings out and takes full ownership of the house. This would be a cash transaction, no mortgage.

Option 2. One of the siblings wishes to gift their share of the house to one of their children and then that child buys the other 2 siblings out, resulting in the child owning the complete house. There may be a requirement for the child to take out a mortgage to fund the 2/3 value of the house.

thanks

Paul - you can use our online assisted guidance to get details of the forms and more required from a registration perspective. HMRC deal with SDLT requirements
HMLR Guide: Start - External  · HM Land Registry