TR1

Question 1

How would you refer to Sarah Jones and a second trustee appointed called Tim Smith in Panel 4 of the TR1?

Answer 1

SARAH JONES and TIM SMITH (being a trustee)

Question 2

How would you write an INDEMNITY covenant from the buyer to the seller for Panel 11?

Answer 2

11 The transferee(s) (jointly and severally) covenant with the transferor to:

11.1 By way of indemnity only observe and perform the covenants referred to in [Entry No x of the Charges Register”] (of the title referred to above) in so far as they are subsisting and capable of taking effect; and

11.2 Indemnify the transferor against any liability arising from any failure to do so

Question 3

How would you write the seller’s appointment of a second trustee in Panel 11?

Answer 3

‘For the purpose of giving valid receipt to the purchase monies, the Transferor appoints [NAME OF SECOND TRUSTEE] to be a Trustee of the Property with the current Trustee.’

Question 4

How would you execute the TR1 for Panel 12?

Answer 4

Executed as a deed by [INDIVIDUAL FULL NAME] [Individual Signature]
In the presence of: [Witness Signature]
[WITNESS NAME]
[Witness Address]