What is a TR1 Form?
The TR1 Form is a legally binding document that transfers ownership of a property from one party to another. The transfer will then be registered at the Land Registry and noted on the Official Copy Entries. It is an extremely important document that you should read carefully with your conveyancer before signing.
As part of the conveyancing process, the Land Registry TR1 Form must be sent on completion to help finalise the sale. This transfer could possibly be accompanied by money that is paid to the seller from the buyer - if so, this is known as ‘the consideration’. However, if money does not exchange hands, the transfer is recorded for ‘no consideration’.
Compare My Move works with a number of finance and property experts to create insightful guides that will aid you through every step of the moving process. In this article, we will discuss what the TR1 Form is, its purpose and what specifically is included in the document.
When Do You Use a TR1 Form?
When a property is being registered for the first time or is being transferred to another party, you will need to complete a TR1 Form. The form is typically organised by the conveyancer who is representing the seller. However, it should be noted that if you are selling or transferring only part of the property, then you will require the Land Registry Form TP1 instead.
The TR1 Form must be signed and sent off before your completion day. If you require help completing the form, it’s advised you speak to your conveyancer for further help.
What Other Documents Should You Send With the TR1 Form?
When sending the TR1 Form, you must also send:
- Stamp Duty Certificate
- Form AP1 or Form FR1
- Certificate of Identity
Compare Local Conveyancers
Speak to Accredited Conveyancers & Save Today!
What Should You Do Before You Use a TR1 Form?
There are 2 main things you and your conveyancing solicitor must do before using the TR1 Form:
1. Check if the property has already been registered with the Land Registry
This is an essential first step as it will affect the details that will need to be sent to Land Registry. Your conveyancer will organise most of the work by using a government service such as the Property Information from HM Land Registry service, or by carrying out a search of the index map.
If you discover that the property hasn’t been previously registered, you will be expected to pay slightly more for the registration due to the added time that will be taken by your solicitor to complete the process. There will also be an added fee required from the Land Registry.
2. Confirm what is included in the register
When researching the property in question, you will need to note any entries made against the home as it could impact the buying process and the speed of the transfer. You should be able to find a copy of the register online, from HM Land Registry.
When searching the register, you might find a number of factors about the property that could affect the process. This includes:
- A Restriction - This is an entry that details an action that is required before the transfer registration can take place. An example of this could be obtaining permissions from a specific party named in the entry or obtaining a certificate to show that you have complied with a specific condition stated in the deed.
- A Caution/Agreed Notice/Unilateral Notice - If you encounter an entry like any of these, you may have to apply separately for its cancellation or removal.
- A Clause in the Lease - If the property is leasehold, there could be a clause in the lease that requires the involvement of the landlord. The parties involved may require the landlord’s consent to continue with the sale or they may have to send certain information over to them, such as evidence of a mortgage offer.
What Does the TR1 Form Include?
There are 12 sections included in the TR1 Form. It’s highly recommended you work with your conveyancing solicitor when completing the form to ensure it’s done correctly. Should you need further help, you can also follow the government’s guidance to completing the form online.
The form is structured as a list of questions in ‘Panels’ with an empty space on one side for you to fill in the answers. You must answer each question honestly and as fully as possible. The TR1 Form panels include:
1. Title Numbers
The first panel is where you’ll have to submit the title number that belongs to the property in question. This should be found on the first page of the official copy of the register. If the property is not yet registered, you must leave this section blank. If you have more than one title number, you can still use one form.
This document is used to transfer all of the property that is specified in the registered title. If you are only transferring a portion of the property, you will instead require the form TP1.
For panel 2, you will be required to provide a brief description of the property being transferred, its official postal address and an accurate postcode. If the property has been previously registered, this information should be found at the start of the Property Register.
This panel should be left blank until the day of completion has been arranged. Once the transfer process has finished, your conveyancer can input the official completion date in the space provided.
4. The Transferor/s
Panel 4 must include the details of all parties involved in the transaction. Some of these details will include the registered person’s name and the full name/s of each person involved. There will be additional sections if the property is being transferred to a company.
If the information added to this section does not coincide with what is recorded in the register, you will need to provide evidence to explain why this is. This evidence should be sent to the Land Registry and can include a marriage certificate or a deed poll for those who may have previously changed their name. If the home is jointly owned and one of the owners has passed away, then you will be required to send the death certificate or the grant of probate.
5. The Transferee/s
Here, you will need to insert the full names of the people who are receiving the property upon transfer. You do not need to include titles such as ‘Mr’ or ‘Mrs’, but you can add any other title you may have. Again, there will be additional fields included if the transferee is a company.
If there is a sole proprietor who wants to transfer the property to 2 or more individuals, including themselves, then their name will also need to be added here. You cannot transfer a share of the property in question.
In this section, the transferee/s will need to provide their correspondence address, which must include a postal address either in the UK or abroad. Do not forget to add the postal code or the international equivalent. This section can include 2 additional addresses that can be a postal, email, box number, or UK document exchange address.
The transferee/s who is completing this section must ensure their postage information is up-to-date at all times. This is vital as the Land Registry may have to send important notices in the future that may impact your rights.
Panel 7 is a standard clause that does not need to be amended or added to. The statement is considered to be relevant to all cases, confirming the intentions of all parties involved in the transfer.
In this first box, the amount paid for the property transfer must be included. If the transfer is being made as a gift, then you should state this in the second box provided. The third box must be selected if the transfer is for any other consideration. If this is the case, you must also submit all relevant documentation and include the important details.
9. Title Guarantees
In this section, it must be stated whether the property is being transferred with full or limited title guarantee. Providing this information ensures the transferor is making several legally binding promises on their property title. The majority of transactions will be with full title guarantee.
Full title guarantee means the transferor guarantees that there are no financial charges or encumbrances on the property, at least to the best of their knowledge. They also guarantee that there is no other third-party interest that could affect the asset, other than those already revealed.
However, limited title guarantee is a more restricted set of promises. In this instance, the transferor is guaranteeing that they have not allowed or created any charge, encumbrance or third-party interest that is present at the date of the transfer.
10. Declaration of Trust
If there are multiple transferees, then declaration of trust must be completed by all those involved as joint ownership can be a very complex addition to the sale. Disputes could easily arise or one of the owners could unexpectedly pass on. To ensure the repercussions of this are minimised, panel 10 will need to state the intentions of all the joint owners.
The transferees involved can hold the property as either Joint Tenants or Tenants in Common. Joint Tenants mean that the asset will automatically be passed onto the other party should one party die. However, Tenants in Common means that the parties will each hold their own share of the property which they can dispose of however they wish. If you are Tenants in Common, you can either have equal or unequal shares. Unequal shares will mean one party will hold a higher share of the property than the other.
11. Additional Provision
In some cases, there might be certain agreements or restrictive covenants made between the transferee and the transferor. The details of these should be added to panel 11 should they be present.
It is advised you seek professional legal advice should a covenant or agreement be presented as they will be binding to all parties involved in the transaction once the transfer is complete.
All of the transferors must now legally sign and execute the deed. Once panels 10 and 11 have been completed, the transferees will also be expected to sign the document.
You will also be required to arrange an independent witness for the signature, someone who is reliable and knows you fairly well. It’s possible to have 1 witness for multiple signatures but they will be expected to sign and add their details below every signature witnessed. It should be noted that the witness cannot be someone already involved in the transfer process or a family member of one of the parties.
There will be different requirements should the transfer need to be signed by an attorney or company. For example, if a company is purchasing the property, they may need to provide their company seal or logo instead.
Compare Local Conveyancers
Speak to Accredited Conveyancers & Save Today!
How Long Does it Take to Process a TR1 Form?
Before sending the TR1 Form to be processed, you will require the signature of an independent, adult witness. This witness must not be within any of the parties involved in the transaction and should be someone who knows you fairly well. Once complete, you should be able to send the TR1 Form to the Land Registry.
It should be noted that the Land Registry will likely have a backlog of cases that must be acted on before any new filings can be viewed. This means that it could take several weeks or even months for your form to be processed and for the changes made in the TR1 Form to be seen in all official government records.
What Happens After the TR1 Form?
The TR1 Form and accompanying documents will be sent to the buyer’s conveyancer once completed. The conveyancer will then begin to register the property in the buyer’s name with Land Registry, using said documents. This will typically be arranged on or before your completion day.
Once the property has been registered, your file should be closed and the transfer complete. When buying or selling a property, you are legally bound to the sale once you have signed and exchanged contracts, meaning you will likely face legal consequences should you walk away from the sale at any point after this step.