I would be most grateful if someone could answer the following queries.
Form AS1 Panel 2.5
When there is a Grant of Probate with two named executors - is it necessary to put the names of both persons appointed by the Grant of Probate or can you just use one i.e. the one who is completing the forms and sending them off?
Form AP1 Panel 4:
If an inherited property is valued at 220K and I am buying my brother out at £110k. In panel 4 do I write ‘Transfer’ and put a value be £110K? I have looked at the guidance but remain unclear as to what scale I use and what fee I pay. Would the fee be based on the full value of the property or the half value that I am paying? Do I use scale 1 or 2?
Panel 3.4
Although there are two named executors on the Grant of Probate it is possible to use just one named executor as the transferor?
Form TR1
Panel 3.8
Given that the inherited property is valued at 220K, my brother and I are the two beneficiaries.and I am buying my brother out at £110K. The ‘consideration’ here would be £110K?
Form ID1
I am unclear as to how many ID forms are required. Re TR1 if I was the sole transferee and the sole applicant i.e. the one completing the form, I am assuming that only I would require an ID1 form. Is that correct?