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Posted Wed, 20 Mar 2024 12:38:30 GMT by Fred Moore
What form to transfer a part interest
Posted Wed, 20 Mar 2024 12:53:22 GMT by Adam Hookway
Fred - you'll need to add more detail for clarity here as such as what interest and what part?
A Transfer of part (form TP1) enables a registered owner to transfer part of a registered title for example part of the garden
Posted Thu, 21 Mar 2024 18:37:00 GMT by Fred Moore
Hi Adam
Thank you for your swift reply. I did post a reply yesterday but as you have not replied I guess you never got it. I thought something was strange when I clicked on the "Post this reply" button but nothing happened except the button turned orange. I shall try again now.

I do not want a form to transfer part of the property e.g. the garden.

When dad died he left the property equally between his three children, lets say A B AND C. and the property was vested in their names.  Now C and his wife want to buy the one-third share of each of A and B.

Would it be possible to do this on one transfer form or easier on two and would the application  fees be the same?

It seems that for stamp duty purposes the two transactions are linked and your guidance on completing the transfer accordingly would be a real help'

Thank you
Posted Fri, 22 Mar 2024 07:20:50 GMT by Adam Hookway
Fred - you can only transfer the WHOLE of a legal title in this scenario. So whoever is currently registered, and I assume by 'vested' you mean that it was registered in A B and C names, would transfer the whole of it to the 'new' owner C
The linked guidance still applies but refer to AP1, TR1 and ID1/ID3 and ignore reference to TP1.
Posted Fri, 22 Mar 2024 10:01:48 GMT by Fred Moore
Hi Adam. Thank you. So A and B would transfer the whole of their one third shares to C  and his wife. Yes that it what is required. But what land registry form would they use please?

Would it be possible to do this on one transfer form or easier on two and would the application  fees be the same?

Thank you for your guidance on the stamp duty.
Posted Fri, 22 Mar 2024 12:07:02 GMT by Adam Hookway
Hi Fred - no, that's not correct, as you can't transfer a share. 
If A, B and C are the registered owners then the three of them would transfer the whole to whoever the new owners are to be. The % shares can then be specified in the TR1 as appropriate
It would be one transfer of the whole legal ownership. The % shares relate to their beneficial ownerships
If you are unsure re stamp duty then you would need to contact HMRC for guidance
Posted Fri, 22 Mar 2024 14:04:16 GMT by Fred Moore
Hi Adam. Thank you for this clarification. It is much appreciated

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