• Protecting Beneficial Interests

    By umeshg on 10th Nov 2023

    Dear Sir

    We have a parent who wishes to gift her children 50% of her share in her primary residence. The property has a mortgage, and banks have a charge.

    We are going to prepare a declaration of trust showing the beneficial ownership.

    What forms do we have to submit at the Land Registry to protect the interest of all parties. Is it Form RX1, and is this an issue if the banks have also registered a charge 

    Many Thanks

  • 1 Answers

    By Guest on 14/11/2023

    You would use an RX1 yes, and would register either a form A or a form B restriction. Beware however that she is likely to require the consent of the lender under the terms of the mortgage before changing the beneficial ownership and that consent may not be forthcoming. Also it will affect her ability to remortgage in future (to switch to a better rate for example)

  • Post Your Answer


  • Do you want to be informed of further comments / replies? Yes No

Ask a Question

Search