• TR1 Transfer And Restriction

    By Guest on 07th Aug 2020

    Following a divorce my ex was awarded the marital home and I signed a TR1 to transfer my share of the property to him. Land registry issued a restriction which required an ST5 to be signed . My ex husband has not signed this so I am having to pay second home stamp duty on the home I am buying for myself.
    my question is that if he never signs the restriction form so that the transfer can't take place does that mean I still technically own half of that property?. This might sound strange but I feel as if they can't have it both ways , if I have to pay the stamp duty then do I own half the house or not ?

  • 1 Answers

    By NotaryExpress on 08/08/2020

    The point of completion is the signing & dating of the transfer deed (TR1). This has presumably transferred the entire equitable ownership over to him. Registration at the Land Registry updates the legal ownership and it appears that has failed to complete.

    What is means is effectively you are likely both legal owners of the house but holding it 100% on trust for him. In other words you're a trustee. It's a bit like if your pension funds buys a property. They are the legal owner but they hold it on trust for you, as the beneficiary.

    I would suggest taking further advice from a family law practitioner though as it sounds like what should have happened in the court order has not taken place.

    www.notaryexpress.co.uk

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