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transfer of property ownership

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bullwingo | 16:11 Mon 10th Jan 2005 | Business & Finance
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A friend of mine is looking to transfer ownership of his property into my name,the property is owned outright so is this a straight forward proceedure as no money will be changing hands.Will this require a TRANSFER deed?, and a LAND REGISTRY fee? to make me the sole owner of this property or is their more to it than that?.the property was originally bought outright from the council.

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Simply phone your local District Land Registry Office who will guide you through the process, which, as there is no mortgage, you can easily DIY. If you do not know your Office, click this link to locate

http://www.landreg.gov.uk/regional/areas/

There are 2 Forms to complete for the Registry, the fee depends on value but is around the �50 mark, and there is a Declaration to make for the Revenue (the LR will tell you where to contact the Revenue).

Yes. Your friend will need to execute a Land Registry Form TR1, and it will have to registered atg the Land regiatry, There will be a land registry fee ot pay.

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