As part of our Conveyancing Series, we explain some of the key documents you may come across during a property transaction, helping buyers, sellers and property owners better understand what they are being asked to sign and why it matters.

If you are buying, selling or transferring a property in England and Wales, one document you may be asked to sign is a TR1 form.

The TR1 is an important part of the conveyancing process. It is the transfer deed used to transfer the whole of a registered title from one party to another and forms part of the process of updating the registered ownership of the property at HM Land Registry.

You may also come across a TP1 form during the conveyancing process. Although it is similar to a TR1, it is used where only part of a registered title is being transferred, rather than the whole title. We will explain TP1 forms in more detail in the next article in our Conveyancing Series.

Read Conveyancing Documents Series 1 – Title Guarantee

Read Conveyancing Documents Series 2 – Reserve Funds

What Is a TR1 Form?

A TR1, formally known as a “Transfer of Whole of Registered Title”, is an HM Land Registry form used where the whole of an existing registered title is being transferred.

The person transferring the property is known as the transferor, while the person receiving the property is the transferee.

In a typical property sale:

• Seller = Transferor
• Buyer = Transferee

The form records important information about the transfer and is later used as part of the application to update the registered ownership at HM Land Registry.

The same TR1 form can be used whether the parties involved are individuals or companies, although different supporting information may be required.

When Is a TR1 Required?

A TR1 is most commonly used when a property is sold from one owner to another.

However, it can also be required where ownership changes without a conventional sale, including certain transfers of equity.

TR1 in a Property Sale

In a normal property sale, the TR1 is the deed used to transfer the registered title from the seller to the buyer.

It is important to distinguish the TR1 from the contract for sale.

The contract sets out the terms agreed between the buyer and seller. Once contracts are exchanged, the transaction becomes legally binding.

The TR1 has a different purpose. It is the legal transfer deed that gives effect to the change in ownership as part of the completion and registration process.

The TR1 may be signed before completion so that it is ready for the transaction to complete. Your solicitor or conveyancer will advise you when and how it should be signed.

TR1 in a Transfer of Equity

A TR1 may also be used in a transfer of equity, for example where:

• an existing co-owner is removed from the title;
• a new co-owner is added;
• a property moves from sole ownership into joint ownership; or
• a jointly owned property is transferred into one person’s sole name.

Transfers of equity can arise following changes in family circumstances, separation, marriage, financial arrangements or other ownership changes.

If there is a mortgage over the property, the lender’s consent may also be required before the transfer can proceed.

What Information Is Included in a TR1?

Although the TR1 is relatively short, it contains important information about the property and the transfer.

• Title Number and Property Address
• Transferor and Transferee
• Consideration – usually the purchase price, although the transfer may also be made by way of gift or for another form of consideration.
• Full or Limited Title Guarantee – the TR1 records the type of title guarantee being given by the transferor, which affects the promises made regarding ownership of the property and third-party interests. We have explained the difference between full and limited title guarantee in an earlier article in our Conveyancing Series.
• Joint Ownership – where there is more than one transferee, the TR1 can record how the buyers intend to hold their beneficial interest in the property.
• Additional Provisions – the form may also include covenants or other obligations agreed between the parties.

Who Needs to Sign the TR1?

All transferors will normally need to sign the TR1. A transferee may also need to sign where they are entering into certain covenants, declarations or other obligations.

Where an individual signs the TR1 as a deed, their signature will usually need to be witnessed. It is important to follow your solicitor or conveyancer’s signing instructions carefully and not date the document unless specifically asked to do so, as incorrect execution can cause delays.

What Happens After the TR1 Has Been Signed?

Once the TR1 has been properly signed, it will usually be held by the solicitors or conveyancers until completion.

On the agreed completion date, the purchase monies are transferred and the transaction completes. The TR1 is then dated with the completion date.

Following completion, the buyer’s solicitor or conveyancer will usually deal with the post-completion requirements, which may include:

• submitting any required Stamp Duty Land Tax return and payment to HM Revenue & Customs;
• applying to HM Land Registry to register the new owner;
• submitting the TR1 and supporting documents;
• paying the relevant Land Registry fee; and
• registering any new mortgage over the property.

HM Land Registry will then process the application and update the register to show the new owner or owners.

Processing times can vary depending on the nature and complexity of the application, so registration may not be completed immediately after the purchase itself has completed.

Do I Need a Solicitor to Complete a TR1?

It is not always legally necessary to instruct a solicitor or licensed conveyancer to complete a TR1. However, transferring property ownership can involve restrictions, mortgages, covenants, tax issues and other registration requirements.

A solicitor or conveyancer can prepare or review the TR1, ensure it is signed correctly and deal with the registration process. Errors can lead to Land Registry requisitions and delays.

How Can Our Conveyancing Team Help?

Chan Neill Solicitors LLP’s Conveyancing team advises on a wide range of property transactions, including sales, purchases and transfers of equity.

Our multilingual team can guide you through the conveyancing process, explain the documents you are asked to sign and assist with the registration requirements following completion.

If you require assistance with a property transaction or transfer of ownership, please contact our Conveyancing team to discuss how we may assist.