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What does this Q on SDLT form mean?

6 replies

Yolo2018 · 17/03/2018 09:39

Is the transaction pursuant to previous option agreement?

I cannot get my head around this question, can anyone explain??

OP posts:
wowfudge · 17/03/2018 15:33

An option agreement is where someone has an option (this option having been granted at some point in the past) to purchase the property being transferred (now). As you don't understand the question, I am guessing this is not the case here Wink

Yolo2018 · 17/03/2018 16:12

@wowfudge okay, get it now thank you.

How about this one...

Is the transaction linked to any others?
Does this mean the links in the sale of the chain (though I'm guessing not.) ???

OP posts:
wowfudge · 17/03/2018 17:17

I would think so, but I'm not sure. It would necessarily mean a chain. Have you read the guidance for completing the form? It'll be on the gov.uk website. That's why we paid the fee for our solicitors to fill the stamp duty form in!

wowfudge · 17/03/2018 17:24

Wouldn't necessarily

ziggy1986 · 17/03/2018 17:26

It’s means (roughly) are you buying more than one property from the same seller at the same time. So if you are buying one domestic property unlikely to apply.

It’s not being in a chain.

johnd2 · 17/03/2018 17:31

No, you should read the guidance notes which explain all the answers.
Linked means for example you are buying multiple properties in a block as one transaction. It's not relevant if you're selling one at the same time, as that's totally separate (actually it happens on the same day, but slightly earlier and independently)

We told our solicitors not to fill it in (as it said they'd charge something like 100 pounds) and they did anyway. Since we'd already been through the guidance, we realised they were saying we were buying the property in exchange for a debt. We told them we weren't, it was in exchange for cash (through them!) but they insisted that since we were funding it through a mortgage that meant somehow the actual purchase transaction was including the transfer of debt.
After some arguing they said they would change it but it's down to us. Presumably they always get it wrong. So there's no guarantee they'll do it properly, but if they do make a mistake, they have insurance to cover it.

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