TR1 consideration

We are separating under a judicial separation agreement, and have agreed our fincial split mutually, without court intervention.
We have a couple of properties in joint names which we are proposing to trf to individual names. My question following a similar post, if there is not court order, do i still tick box 3? Can i reference agreed settlement? No money is changing hands

Hi Donna - box 3 of which form/panel? See our online guidance for how to complete each panel of form TR1

3.8 Panel 8: consideration

Enter the amount paid for the property being transferred where shown (first box). If the transfer is to be by way of gift, select the second box. If the transfer is for any other consideration, select the third box and enter the details

The transferor has received from the transferee for the property the following sum (in words and figures): 
The transfer is not for money or anything that has a monetary value
Insert other receipt as appropriate:

Im struggling as to which box and if no money is exchanged, just realignment of assets, is it option 2?
thanks 

Donna - many thanks and understood. We can't tell you what to put as it all depends on what you are actually doing.
You refer to agreeing to transfer from joint to sole names and a financial agreement - the latter may impact here as to whether that financial agreement takes into account the value of the two properties in some way.
For example you could refer to them being in consideration of the agreement you refer to but you also need to consider the wider stamp duty assessment/payment that might be payable - you might want to check on that first as that will help you to then realise what the consideration might also be
If in reaching your financial agreement, without a court, you used a solicitor I'd suggest asking them for advice