Drafting TR1

Question 1

Title number

Answer 1

from Official Copies

Question 2

Property

Answer 2

Address of property from Property Register of Official Copies

Plan will always be required if property being sold is part of a larger property (whether registered or unregistered)

Question 3

DATE

Answer 3

[date to be inserted on completion]

Question 4

TRANSFEROR

Answer 4

FROM CONTRACT

if company - comp. no too
PR - use PR name
co-ownership - both names

if death of one co-owner:

• JT: SURVIVOR only
• TC (1 left): appointed trustee named here too
• TC: name of survivors

Question 5

transferee

Answer 5

FROM CONTRACT

Question 6

Transferee’s intended address(es)

Answer 6

RESIDENTIAL: address being bought

COMMERCIAL: reg. office or head office of B

(can also give solicitor’s address)

Question 7

box 7: The transferor transfers the property to the transferee

Answer 7

leave this alone

Question 8

consideration

Answer 8

tick correct box (or untick wrongly ticked box)

box 1 - WORDS AND FIGURES

box 2 - if gift

box 3 - for complex transactions

Question 9

Transferor transfers with…

Answer 9

Make sure the correct box is ticked (check contract)

NORMAL = full title guarantee

LIMITED = if sold by someone who isn’t the registered owner like a bank who repossessed or by a PR

Question 10

Declaration of trust

Answer 10

blank if 1 purchaser

if more than 1 purchaser: tick correct box as instructed

• beneficial JT
• beneficial TC
• ‘on trust’ - some other basis

Question 11

Additional provisions

Answer 11

common:

• new PC/RC
• indemnity
• declaration excluding rights of 3P
• appointment of 2nd trustee\

wording will be agreed in contract - copy it over

Question 12

appointment of 2nd trustee

Answer 12

“For the purpose of giving a valid receipt for the purchase price, [NAME OF SOLE PROPRIETOR] (“Current Trustee”) in exercise of the power under s.36(6) of the Trustee Act 1925 appoints [NAME OF ADDITIONAL TRUSTEE] to be a trustee of the Property with the Current Trustee”

Question 13

indemnity covenant

Answer 13

“The Transferee covenants with the Transferor to observe and perform the covenants contained or referred to in entry number [X] in the Charges Register of tittle number [X] and to indemnify the Transferor against any liability for any future breach or non-observance of covenants”

Question 14

excluding 3P interest

Answer 14

“A person who is not a party to this transfer will not have any rights under or in connection with it by virtue of the Contracts (Rights of Third Parties Act 1999)”

Question 15

execution

Answer 15

S always 
B if specific reason to do so:
- panel 11 (new PC/RC)
- panel 10 (declaration of trust)
- panal 11 (indemnity covenant)

CHECK EXECUTION CLAUSE - correct it