Hello,
My partner and I are separating and I'm buying him out so I need to change ownership to myself only.
We bought the property as tennants in common and the property (leasehold flat with a share of freehold) is mortgage free. The property has two lease titles and I'm including both in the forms, I believe one of them sets out the proprietorship of the shared freehold between three flats.
I understand we need to complete 2 x ID1 forms, 1 x TR1 and 1 x AP1.
We've watched all videos but we're still unsure about what goes in panel 4 and panel 14(2) of AP1:
- In panel 4 - "Applications in priority order", do we need to just list "transfer" if the property has no mortgage?
- In panel 4 - what is meant by "price paid/value" (i.e. is it original price, current valuation, sum paid to transferor by me etc.)
- In panel 4 - would this be classified as a Scale 2 fee?
- In Panel 14(2) - we're not sure what goes in as mortgage was redeemed last month; do we need any other applications/forms with regards to mortgage redemption?
Many thanks in advance for your help,
Lisa