Adding A Person To Title

I have bought your DIY kit and want to add my daughter to the title along with myself and my wife, but the kit does not tell me whether I should use form TR1 or form TP1. Which is it please?

3 Answers

Hi I'm a conveyancer of 18 years. Firstly have you got a registered mortgage? If so your first step is to contact the lender and apply for a transfer of equity. You'll need to appoint a conveyancer on the lender's approved as they won't allow you to do it yourself.

Secondly what is the tenure? Freehold or leasehold? If leasehold you'll need to contact the management company as you'll have to consider issues such as serving notices on completion and paying any associated fees.

Thirdly how will the property be held? Joint tenancy or tenancy in common? This relates to the right of survivorship and you should research this if you are not already aware of what it means.

If freehold with no registered mortgage then it's pretty easy. Use form TR1. A TP1 is only used when you are splitting a freehold title. You and the wife should be named as Transferees and then you, your wife and your daughter should be named the Transferor. Each signature should be witnessed by an independent adult person who should not be relative. In the consideration panel you should select no monetary consideration unless your daughter is buying equity. If this is the case then you need to enter the amount passing over.

Consider taking some form of financial tax advice as to the implications of the transfer.

Finally just lodge the TR1 with the AP1 to HMLR. We use an online portal which I'm pretty sure members of the public can access. Just google HMLR portal and set up an account. The AP1 can be a bit of a intimidating form to complete if you aren't familiar with it though. Registrations are taking roughly 2-3 weeks atm but the date of registration isn't important in the sense that your daughter becomes a lawful owner from the date on the transfer.

Tbh it is a simple transaction if you know what you're doing. If you don't there are a lot of potential pitfalls you need to be wary of. Eg: Make sure you maintain priority throughout the registration process. I would strongly recommend you appoint a conveyancer. The fees should be pretty minimal (about £300 plus vat plus disbursements) and it can be sorted in as little as a week. If you like you contact me at [email protected] (http://www.simpsonmillar.co.uk/)

Good luck! :)

Thanks for your useful reply

A supplementary please. If I go for joint tenancy, and make it one-third each, and then at a later stage decide to increase my daughter's share, to say 50% and make a declaration of beneficial interest, do I have to file anything else with Land Registry at that stage, or do I just keep the Declaration with my property papers please?