• Gifting Share Of Freehold And Leasehold Of Flat To Brother

    By Guest on 17th Jan 2024

    I am looking to transfer ownership of my flat (both freehold share and leasehold) to my brother. And we would like to do this without involving a solicitor, if it is simple enough.

    The property has a Share of freehold and a 999 year leasehold. We have carried out a valuation and there is no capital gains tax to pay. We should simply need to complete the correct forms.

    Do I need to fill out forms for both the transfer of freehold and leasehold separately or can they be combined into a single form? Is this just the TR1 form and ID1 forms that are required or do I need a TP1 or AP1 form too?

  • 1 Answers

    By Guest on 01/02/2024

    Hi,

    You say you only have a share of the freehold so (presumably) you own it jointly with the flat owners. If that's the case, they will all need to be a party to the transfer, so the transferors will be you and each other person on the freehold title and the transferees will be your brother and each other person on the freehold title. for that reason you will need a separate transfer for the freehold and leasehold. The forms you need are TR1 (x2), a separate ID1 for all of the parties and an AP1. I assume you don't have a mortgage on the property - if you do then you will need to repay it before you proceed.

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