What if I am the outgoing party?
As an outgoing party of the transfer, who is being removed from the title to a property, you will be asked to complete what is known as an ID1 Form. This is, mainly, for HM Land Registry purposes and is required as part of their identification process. The transfer cannot be successfully registered at the Land Registry without this, unless you are legally represented by a conveyancer.
At MG Legal, we would always recommend seeking independent legal advice on the transfer, in order that you are fully aware of what you are being asked to sign. Our team specialise in transfer of equities, and deal with such matters on a daily basis, which should make us your first port of call when being asked to sign a transfer deed. Our team can clearly explain the transfer to you and, importantly, the implications of agreeing to the terms of the deed.
Where, however, you decline to take advice on the matter, the ID1 will be required. You will be asked to complete the form in the presence of a conveyancer, solicitor or barrister. This is also something that our team can assist with, so make an appointment today by contacting property@mglegal.co.uk.
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