What Is A TR1 Form, And Can I Complete It Myself?
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Regarding legal processes and property transactions in the United Kingdom, numerous forms play a pivotal legal role in ensuring transparency, accuracy and efficiency. Among these crucial conveyancing documents is the TR1 Form.
Whether you are a first-time buyer or seller, a property investor or a legal professional, understanding the purpose of the TR1 Form is crucial.
In this article, we will cover what a TR1 Form is, when a conveyancer would use it, and if you can complete a TR1 Form yourself.
What is a TR1 Form?
The TR1 Form is also known as the Transfer of Whole of Registered Title and is a legally binding document that transfers property ownership from one party to another.
The TR1 Form could also transfer unregistered properties to be registered with the HM Land Registry and noted on the Official Copy Entries.
A TR1 Form must be completed when a property is registered for the first time or transferred to another property. The TR1 Form must be sent on completion by the seller's conveyancer or solicitor to finalise the sale, which could be accompanied by the funds from the seller to the buyer.
While the primary function of the TR1 Form revolves around the transfer of a property, the TR1 Form also encompasses a broader range of information vital to safeguarding the rights and interests of all parties involved.
When do you use a TR1 Form?
The TR1 Form must be used when a property is sold or transferred to another property and sent off before the completion date.
The seller's conveyancer usually supervises the form, but if you're selling or transferring only part of the property, you must use the Land Registry Form TP1 instead.
How can I get a TR1 Form?
However, if you are completing the TR1 Form yourself without the aid of a conveyancer, then you can download this from the UK Government's website.
What Information Is Contained In A TR1 Form?
Within the TR1 Form are 12 sections structured as a list of questions in panels with a space for your conveyancer to fill in the answers, which must be answered honestly and as accurately as possible.
The TR1 Form usually is 1 or 2 pages long, but the sections may vary depending on the complexity of the house transfer.
The standard TR1 Form sections include:
1. Title numbers
The first section is the title number allocated to the property, which should be found on the first page of the official copy of the register.
This section must be filled in if your property needs to be registered.
2. Property
The following section briefly describes the property being transferred, which should include the postal address and postcode.
3. Date
This section is only for completing the sale, which your conveyancer will carry out.
4. The Transferor/s
The transferor/s section should include the details of all parties involved, including the registered owner's name and the full names of each person involved in the sale.
5. The Transferee/s
The transferee/s section is for the full names of the people buying the property.
6. Address
The transferee/s must provide their correspondence address, including an up-to-date postal address abroad or in the UK. There can be two additional addresses for a postal, email, box number or UK document exchange address.
7. Transfer
The transfer section is a standard clause that should not be amended, and the statement is considered relevant to all cases, confirming the intentions of all parties involved.
8. Consideration
This is the amount paid for the property transfer. If the property is being made as a gift, then this should be stated in the second box provided.
The third box should be selected if the transfer is for any other consideration, and your solicitor must submit all relevant documentation.
9. Title Guarantees
The title guarantees state whether the property is being transferred with a full or limited title guarantee; most transactions will be the full title guarantee.
A full title guarantee is where the transferor guarantees that there are no finance charges or encumbrances on the property and that no other third-party interests could affect the asset unless this has already been agreed upon.
A limited title guarantee is a stricter set of promises like the transferor guaranteeing that they have not allowed or created any charge, encumbrance or third-party interest present at the transfer date.
The limited title guarantee may also state that the property is sold by an executor of a will following the death of an owner.
10. Declaration of trust
The transferees must state how they wish to own the property jointly, which is vitally important, and your conveyancer will advise you on what types of ownership are correct for you.
11. Additional provision
Within the TR1 Form, there may be restrictive covenants or certain agreements made between the two parties.
12. Execution
After reading the form thoroughly, all parties involved in the transfer must sign the TR1 Form. The transfer will then become legally binding.
An independent witness must witness each signature and provide their signature, name, address and occupation. The witness should not be related to anyone linked in the transaction.
What other documents should you send with the TR1 Form?
Alongside the TR1 Form, your conveyancer may also send the following:
Certificate of Identity.
Any funds for the property.
Form AP1 or Form FR1.
How to fill out a TR1 Form?
The easiest way to fill out a TR1 Form is to get the assistance of a conveyancer who will complete it for you.
Can I fill out a TR1 Form myself?
If you are DIY conveyancing or trying to save time, you can complete a TR1 Form yourself. However, you should consider hiring a conveyancer to supervise you, as if you need to correct something, it may damage the sale.
It's important to note that most mortgage providers will insist that the TR1 Form is completed by a qualified legal professional for the buyer to be eligible to borrow.
Once a TR1 Form is submitted, then there will be an HM Land Registry fee payable, which you should ensure is paid out correctly.
How much does a conveyancer charge for a TR1 Form?
The TR1 Form is usually part of a conveyancer's everyday workflow and does not have a specified fee.
How long does a TR1 Form take to process?
TR1 Forms are part of the complicated process of conveyancing, which is often the longest part of a house transfer. In most cases, when a TR1 Form is sent to the HM Land Registry, they will have a backlog of documents — which can take weeks, if not months, to clear.
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