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Aston Lawyer
Aston Lawyer, Solicitor
Category: Property Law
Satisfied Customers: 11089
Experience:  LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
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How can I gift a leasehold flat property with no mortgage to

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Hi, how can I gift a leasehold flat property with no mortgage to my relative, without any payment change hand, do my relative have to pay any stamp duty for this gift?
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: not yet
JA: Where is the leasehold located?
Customer: Reading
JA: Anything else you want the Lawyer to know before I connect you?
Customer: current market value at £200k. I am not good at renting out, but my relative is good at. we often gift to each other at time of needs. is this any issue?

Hi,

You are certainly free to gift the property to your relative without any money changing hands. It would be normal for you to instruct a Conveyancing Solicitor to prepare the Land Registry Transfer document and there is a panel on the document which you tick to say no money is being paid.

As no money will be changing hands, no Stamp Duty will be payable.

I hope this assists and if so, I would be grateful if you could rate my answer with 3-5 stars.

Kind Regards

Al

Customer: replied 16 days ago.
but why someone told me that this is sale and purchase as usual, stamp duty is still payment as usual.

Hi, you have been told wrong. Stamp Duty is only payable if consideration (money) is being given. If it is a gift, no Stamp Duty is payable.

Kind Regards

Al

Customer: replied 16 days ago.
Also can I do it myself? if so what document forms need to fill in, gov.uk said, I need TR1, AP1, ID1 forms, anything else?

Hi, you can do it yourself and it looks like you know which Forms you need to complete and send. Apart from the fee, there are no other documents you will need to submit apart from those quoted by you.

Kind Regards

Al

Customer: replied 16 days ago.
many thanks, what about the leasehold landlord consent, in what form I need to write to them(reading borough council) for consent, in this case of gifting, do they object to it somehow?

You need to study the Lease to see if the Council's consent is required but normally it is not, and all your relative needs to do is to serve Notice on the Council to say the property now belongs to her as from xxx date (quote the date of the Transfer).

Kind Regards

Al

Aston Lawyer and 2 other Property Law Specialists are ready to help you
Customer: replied 16 days ago.
I see, does landregistry will require me to obtain consent first while submitting TR1, AP1, ID1 etc?
Customer: replied 16 days ago.
Also, will they ask me why I want to gift this such property away to my relative?

Hi, thanks for rating my answer. They won't ask why you have gifted the property (it is none of their business!)

All the Best Al

Customer: replied 14 days ago.
Hi Aston,
Thank you for your great answers yesterday, I am filling the form TR1, AP1 form, just wonder who is the applicant in Panel 6, it is me (gifting the property to my relative) or has to be my relative names as applicant?

Hi, I'm happy to answer your follow on question free of charge- the applicant is the party who is applying to be the new owner of the property so it is your relative. Kind Regards Al

Customer: replied 14 days ago.
Thank you so much. I nearly get wrong. So they (will be new owners) need to send all TR1, and AP1 and ID1 forms to land registry?
Customer: replied 14 days ago.
You are great, I will recommend some of my friends to contact you if they have any questions. not sure how to contact you?
Customer: replied 14 days ago.
Hi Aston, in ID1 form, if I have passport to show in List A, do I still also need 2 of those in List B?

Hi, you just need to provide your valid passport and nothing else, other than the photos. Al

Customer: replied 9 days ago.
Hi Aston, I paid off all the mortgage for this property a little while ago, do I or the lender has to lodge a discharge at landregistry office, or the lender would do it automatically after mortgage was paid off? As I will of course need this to be done, before I can finally gift to someone else.