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Where Taxpayers and Advisers Meet

Restriction Form A

rks2018
Posts:61
Joined:Sun Sep 16, 2018 1:27 pm
Restriction Form A

Postby rks2018 » Wed Nov 10, 2021 5:48 pm

Hi all,
In need of some help please, in process of removing my sisters name from property, she has never had any beneficial interest in the property and we were never aware of any restriction put on the property. No mortgage on property, I sent in forms Tr1, deed of trust St5 and a covering letter explaining reason of no beneficial interest signed by my sister.
LR have replied back saying"youmay not have had any beneficial interest in the property and still may not hav e??? A form A restriction was entered by LR at the time of registration as the evidence provided indicated that the property was a trust property and held in trust as was evidenced by the deed of trust. There forre if applicable and is indeed the case please provide an additional statement of truth covering the fact that you do not or nvere had any beneficial interest and have not encumbered it as the enclosed St5 is not sufficient to consider the removal of the restriction. "
Am I right to read this as they are referrering to my sister? I'm not sure what they are after, do I need my sister to send another signed covering letter? I cannot get my sisters name removed from LR until this restriction A is removed, thanks for any advice.

AGoodman
Posts:1345
Joined:Fri May 16, 2014 3:47 pm

Re: Restriction Form A

Postby AGoodman » Thu Nov 11, 2021 1:32 am

This is a property question rather than tax (and my knowledge of property is cursory) but I'll bite.

Could you explain why your sister was on the title and who is/are the actual beneficial owner(s).

LR may mean (in their crude template letter way) that just because your sister does not have a beneficial interest does not mean that it is wholly owned by you. The original transfer into your names referenced some form of trust so understandably they wish to know what has happened to the trust. If you don't know what/why that is, you could see if they still have a copy of the original TR1 transferring it into your names.

rks2018
Posts:61
Joined:Sun Sep 16, 2018 1:27 pm

Re: Restriction Form A

Postby rks2018 » Thu Nov 11, 2021 8:28 am

Hi thanks for reply,
When I purchased this property I had to have my sister on the mortgage as my earnings were not enough. I always thought this tenancy was a joint, so obviously misunderstood whatever the solictirbat the time was saying or perhaps this was a requisite to have tenants in common by the lender?
At the time we were both beneficiaries I guess but I then initiated deed of trust later which specifies that I myself and the sole beneficiary.
Having now paid off the mortgage I wish to remove my sisters name and in the process, unexpectedly came up with this issue highlighted by LR. I sent in a rx3 ect and st5, I sent in a covering letter signed by my sister stating that she has no financial interest in the property and wish that her interest is removed. Is it the wording I need her to change? There is no one else who has any interest in the property at all. Thanks

rks2018
Posts:61
Joined:Sun Sep 16, 2018 1:27 pm

Re: Restriction Form A

Postby rks2018 » Thu Nov 11, 2021 6:02 pm

Spoke to LR today and quired some points now all they want is a statement of truth, which is fine by me, wait and see now.


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