Practice Guide 21 update
Land Registry Practice Guide 21 has recently been amended to illustrate when separate fees are due during property transfers, even if a single transfer form is used.
The guide, entitled ‘Transfer forms for complex transactions’, details how to prepare and fill in transfer forms TR1, TR2, TR5 and TP2 for transactions that are not straightforward.
Section 5 relates to the transfer of property in different ownership. Although a single transfer form may be used for more than one transfer, it states that separate fees will be payable for each of these transfers. Under the Land Registration Fee Order 2013, when assessing the fee owed, ‘transfer’ is the disposition, as opposed to the form or deed used to effect the disposition. As there are multiple dispositions taking place, separate fees are required.
Examples under section 5 illustrate the various situations which could occur, and whether separate fees would be payable.
E.g. Where the transferor and transferee are the same, but the registered estates are different, one fee is payable. This would be where Mrs Y transfers properties A and B to Mrs Z.
However, where the transferor is the same but the transferee and registered estate are different, separate fees would be due. This would be the case where Mrs Y transfers property A to Mrs Z and property B to Mrs X.