Skip to main content
Posted Sat, 29 Jul 2023 13:53:37 GMT by K Hughes
Hello,
I am buying a property with a market value £60k from my parents.   They have sold the property to me for £35k, therefore gifting the equivalent £25k to me. 
On the AP1 Form, box 4, I have stated that the value is £60k as this is market value of the property.   On the TR1 form in section 8 - Consideration -  I entered Option 1 - £35k as that is what I am paying them.   
Land Registry has now sent a Requisition stating that consideration does not match on the AP1 and TR1.   I need to correct this and would appreciated some help with it.  Should I have only ever put £35k on the AP1 form or should I have done the following with the TR1? 

TR1 - filling in option 1 and 3

Option 1 - The transferor has received from the transferee for the property the following sum (in words and figures):
I enter £35000.00 (thirty five thousand pounds)
and I also complete
Option 3 - Insert other receipt as appropriate
I enter 'The transferor has gifted the equivalent of £25000.00' 

Advice on this would be greatly appreciated.

Thank you
Posted Mon, 31 Jul 2023 07:21:20 GMT by Nimish Patel
Hello K Hughes - We cannot tell you what to enter on the forms as that would be going beyond our remit.  However, the information in Panel 4 of the form AP1 should match with what is set out in Panel 8 of form TR1. 

You must be signed in to post in this forum.

Sign in