Who must execute the transfer to the buyer in Form TP1?

Who must execute the transfer to the buyer in Form TP1?

• A. The buyer only
• B. The seller and the buyer
• C. The lender only
• D. The seller only

Answer: (B)

The fundamental idea is that a transfer deed must be executed by both sides to pass ownership. Form TP1 is the deed used to transfer legal title from the seller to the buyer, and a deed requires the grantor (the person transferring the property) to sign to convey the property and the grantee (the person receiving it) to sign to accept and take the title. The seller’s signature effectually grants the property, while the buyer’s signature confirms acceptance and binding commitment to take the title and be registered as the new owner. The lender’s signature isn’t normally required on the transfer form itself; their involvement happens through separate mortgage documents or consents, such as releasing a charge or approving the transfer under the mortgage, not by signing TP1. So the correct setup is that both the seller and the buyer must execute Form TP1.

The fundamental idea is that a transfer deed must be executed by both sides to pass ownership. Form TP1 is the deed used to transfer legal title from the seller to the buyer, and a deed requires the grantor (the person transferring the property) to sign to convey the property and the grantee (the person receiving it) to sign to accept and take the title. The seller’s signature effectually grants the property, while the buyer’s signature confirms acceptance and binding commitment to take the title and be registered as the new owner. The lender’s signature isn’t normally required on the transfer form itself; their involvement happens through separate mortgage documents or consents, such as releasing a charge or approving the transfer under the mortgage, not by signing TP1. So the correct setup is that both the seller and the buyer must execute Form TP1.