Transfer of whole by way of exchange
Transfer of whole by way of exchange

The following Property precedent provides comprehensive and up to date legal information covering:

  • Transfer of whole by way of exchange

Transfer of whole

Precedent transfer

Exchanges are now almost invariably effected by separate transfers, each containing the usual title guarantees given by ordinary sellers. There is no restriction on the nature or value of the properties exchanged. A freehold interest can validly be exchanged for a leasehold interest (IRC v Littlewoods Mail Order Stores [1962] 2 All ER 279, HL) and any necessary payment can be included by way of equality of exchange.

An adaptable Word version of the precedent form TR1 can be downloaded, saved or printed from the link on this page.

Drafting notes to precedent transfer

Panel 1—Title numbers

If there are a number of properties, each title number should be listed alphanumerically and may be numbered starting with one, and each property listed in the same order as the title numbers and correspondingly numbered.

Panel 2—Property description

The optional wording is for use where the Property is unregistered. It is not usually necessary to refer to a plan in a transfer of the whole of unregistered land. It is normally sufficient to refer to the conveyance or instrument containing the description of the property. Only where the conveyance or instrument does not enable the land to be fully identified either by containing a plan, or by referring to the plan in an earlier deed, or containing or referring to a sufficiently clear verbal description, is a plan required

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