• Transfer Equity Without OC1

    By Guest on 12th Jul 2016

    Hi, I need to get a transfer of Equity completed to remove my husband from the deeds of a property by 18 August (when we are completing on the purchase of another property and therefore additional rate stamp duty would potentially be liable).

    I have the kit which states an OC1 must be submitted which prevents any changes being made for 30 working days.

    If I submit this today would this mean I can't have him removed by the 18 August (today being the 12 July)?

    Is it possible to submit the TR1/AP1 without having submitted the OC1?

    Is it possible to back-date the transfer date on the forms (although have it within 3 months)?

    Many thanks

  • 1 Answers

    By Guest on 12/07/2016

    The point is you need to submit the AP1 within the 30 working day priority period - you do not need to wait for this to expire and indeed you shouldn't as this would defeat the object. Also, the effective date of the transaction for stamp duty purposes is the date of the transfer, no the date of registration. Beware though, a married couple are treated as single unit for the purposes of higher rate stamp duty, so if the plan is for your jointly owned property to be registered in your sole name so your husband can buy a property in his sole name (or jointly with you) and avoid the higher rate then I'm afraid it won't work - you will still be liable for the higher rate

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