TR1 Form Section 8

My sibling and I are looking to sell/gift land within the family, my 50% share is being gifted and my sisters 50% share is being sold for 40k cash. How do i disclose this in section 8 of the TR1 form?<br> <br> &#160;

J Wallis - please refer to our online guidance for assistance&#160;<br> <a href="https://www.gov.uk/government/publications/registered-titles-whole-transfer-tr1/guidance-completing-form-tr1-for-the-transfer-of-registered-property#how-to-complete-panels-in-form-tr1">Guidance: how to complete form TR1 - GOV.UK</a>

Thank you. I assume if we select box 3 and type something similar to the following it will be sufficient?&#160;<br> &#160; <table cellpadding=0 cellspacing=0> <tbody> <tr> <td valign=top> <p></p> </td> <td valign=top> <p>‘The transferor John Smith has received from the transferees for the property a sum of Forty thousand pounds £40,000. The transferor Mary Smith has received no money from the transferees and has gifted their share of the property.’<br> <br> &#160;</p> </td> </tr> </tbody> </table>

The wording can be used. We won't confirm if it is sufficient until the application has been submitted and all documents considered.&#160;