For most of us, our home is the most valuable asset we will ever own. When we sell our property, we must ensure the transfer of ownership of this important asset is recorded properly. The TR1 form is central to this task. But what does a TR1 form do and what does it contain? Read on to learn more about this vital document and why it matters when you sell your home.
What is a TR1 form?
A TR1 form is a legal document used by the UK’s Land Registry to record the transfer of real estate from one party to another. In residential property sales, the preparation of the TR1 form is typically handled by the seller’s solicitor or conveyancer. They complete the necessary details on the form, whilst the seller and buyer simply provide their signature. The cost for preparing and completing a Land Registry TR1 form is usually included in the overall fees charged by solicitors or conveyancers and is typically not listed as a separate expense.
Why is a TR1 form important?
TR1 forms play a crucial role in maintaining an accurate and centralised record of title deeds at the Land Registry. This data system helps prevent the loss, alteration, or theft of title deeds, ensuring the integrity and security of property ownership records.
Before submitting a TR1 form, a solicitor must conduct two important checks. Firstly, they must verify whether the property is already registered with the Land Registry. Secondly, they need to review the existing register to confirm and validate the details of the property.
What information is in a TR1 form?
A standard TR1 form includes various pieces of information:
- Title number – every property has its own unique title number
- Property description – land, house, apartment, commercial property, etc
- Date of transfer
- Details of the transferor – the seller
- Details of the transferee – the buyer
- Address of the property
- The purchase price
- Title guarantees – confirms the seller owns the property and has the right to sell it
- Declaration of trust (if applicable) – records how a ‘beneficial trust’ may own the property
- Additional provisions – any special agreements between the parties
- Execution – the legal signing of the document
How to complete a TR1 form?
It is not recommended that property sellers complete and file the Land Registry TR1 form themselves, as without legal training you may make errors that question your ownership of your home or cause confusion in the transfer process. However, if you want to complete the TR1 form yourself, there is nothing to stop you from doing so, although you may find some mortgage lenders insist that this document is drawn up by a qualified legal professional.
If you’re going to go solo, these are the important points to know:
Completing a TR1 form:
- Obtain a TR1 form either from the Land Registry or through specialist conveyancing software.
- Enter the title number, property address, transfer date, price paid, and the names of all parties involved as Seller (transferor) and Buyer (transferee).
- The Seller signs the form in the presence of an independent witness.
- The Buyer also signs the form before a witness. If there is more than one buyer, all must sign.
- The buyer’s mortgage lender signs the form if there is a mortgage to be ported over or discharged.
- Witnesses certify that the necessary signatures are genuine by also signing the form.
- Copies of the signatories’ identification, such as passports, must be enclosed.
- The Land Registry fee, Stamp Duty Land Tax (SDLT) certificate, and any other supporting documents are attached.
- Submit the complete form and supporting documents to the Land Registry either as a paper form or via an online portal.
Make sure you have the correct supporting documents:
Supporting documents to be filed with your TR1 form:
- Certificate of identity – proves who the buyer and seller are.
- AP1 or FR1 form – AP1 forms record the transfer of registered land. FR1 forms record the transfer of unregistered land. Confused? See the difference here.
- Stamp duty certificate – shows the due tax has been calculated and paid to HMRC.
Common errors to avoid:
Mistakes and omissions on a TR1 form can impact the transfer of ownership and delay your sale. Common errors to watch out for include:
- Incorrect property address or title number – this can invalidate the form
- Using an outdated TR1 form – the latest version must be used
- Information doesn’t match existing Land Registry records – typically this involves spelling errors in names and addresses
- Missing signatures, or the signatures in the wrong place
- Unclear or inconsistent sale price – it doesn’t match other sale documents
- Witnesses not providing their full names and addresses
- Failure to enclose supporting ID documents
- Unsigned mortgage lender consent when required
What fees and costs are associated with a TR1 form?
Legal professionals seldom itemise the cost to complete a TR1 form. This expense is usually bundled into their general conveyancing fee, and it will reflect the daily or hourly rate your solicitor charges. If you need a detailed breakdown to reveal this cost, simply ask your legal representative to provide one.
How long does it take to file a TR1 form?
If there are no issues with the paperwork, it typically takes 2 – 3 weeks for the Land Registry to record the change of ownership of your property. However delays can occur if there are errors in the documentation or if the transfer is clouded by third-party claims to ownership (common in probate and divorce property transactions), or if there is a mismatch in the existing property description that is held with the Land Registry. In such cases, the timeline to record the transfer of ownership can be open-ended, as until the issues are resolved, clear title cannot be determined.
How can I speed up the TR1 form filing process?
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