Tenants in common - which are the correct forms to complete?

 

Hi Lynn - that's correct - see our online guidance 
Apologies for such a slow reply

Adam, thank you very much, I really appreciate your help.

Dear Adam,

I have a couple of questions on completing Form TR1 regarding changing from my sole ownership to tenants in common with my son and daughter-in-law (in unequal shares).

The guidance notes for panel 10 of form TR1 states:

They should place an ‘X’ in the third box if they intend to hold it in unequal shares, or for themselves and others (whether in equal or unequal shares), or under the terms of a separate existing trust deed or will, and in each case they should also add the relevant details. in which case a Form A is not required? Therefore the conditions of the trust would be in a separate declaration of trust deed that the Land Registry do not need to hold?

However: If neither panel 10 of the transfer nor a form JO are completed and lodged with the application to register a transfer to joint transferees, we will enter a Form A restriction by default. Does this mean that if I ticked nothing in panel 10, I don't need to submit Form A and Land Registry will do this on receipt of my application?

With many thanks, Lynn.

 

Morning Lynn - firstly a form A isn't a paper/application form but a form of standard restriction and one which is often applied for by joint owners who hold the property as tenants in common/in % shares.

So if you are transferring from your sole name to joint names and wish to be 'tenants in common' then you would select either the 2nd or 3rd option as appropriate.
If you've entered into a specific arrangement/trust deed then you can refer to that under option 3. 
If you don't complete the panel then we will enter a form A restriction on the register by default. 

Thank you Adam, you have been immensely helpful!