Transaction forms

19 March 2009

Changes to TransAction forms

The Society has updated its TransAction forms to reflect feedback from the profession and changes to the law including the introduction of Property Information Questionnaires from 6 April 2009. The forms are available to order now from the usual suppliers.

TransAction is the brand name of the Law Society's scheme that was launched in 1990 to help streamline and standardize the process of domestic conveyancing transactions. The scheme includes the use of the Law Society's TransAction forms, the Law Society's National Conveyancing Protocol, and the Standard Conditions of Sale.

 

Specimens of the current TransAction forms:

 

New forms

The series of TransAction forms has been revised to include two new forms TA0 and TA00 and four revised forms TA1,TA6,TA7 and TA10.

The Law Society has created two new forms in its TransAction series, which present the content prescribed by Schedule 11 and Schedule 12 of the Home Information Pack (No 2) Regulations 2007 (SI 2007/1667, as amended):

  • TA00 Property Information Questionnaire
  • TA0 Property Information Questionnaire (New Homes)

From 6 April 2009, a Property Information Questionnaire (PIQ) completed by the seller becomes a 'required' document which must be included in a HIP at the 'first point of marketing'.

There are two types of PIQ. One is completed by a seller marketing a new home (TA0), the other by a seller marketing any other property for which a HIP is needed (TA00).

Each PIQ has two parts. If the property is leasehold, or will be leasehold at completion of the sale, the seller must complete Part 1 and Part 2 of the appropriate PIQ. If the property is a freehold or a commonhold, the seller need only complete Part 1.

The Department for Communities and Local Government describes the purpose of the PIQ in an Industry briefing note:

'The intention of the PIQ is to provide the buyer with a helpful checklist of information as they walk round the property. It is not intended as a replacement for enquiries made during the conveyancing process but should help reduce the opportunity for surprises coming to light further down the line as part of this process.'

 

Revised forms

TA1 Home Information Pack (2nd edition)

Revised to reflect amendments to the regulations since July 2007. These include:

  • the replacement of 'required' leasehold information by the information requested in part 2 of the PIQ
  • sustainability information for marketing new homes
  • the introduction of PIQs from 6 April 2009

TA6 Property Information Form (2nd edition)

This now combines the previous editions of TA6, TA11 and TA12. It is intended, in most transactions, to be used as a single form containing all the necessary information for the conveyancing process. However, it will also still be possible to include TA6 in a HIP as a document presenting authorised information in addition to the required PIQ form.

TA7 Leasehold Information Form (2nd edition)

Intended for use with form TA6 to disclose the information necessary for conveyancing transactions of leasehold property. As with form TA6, it could be included in a HIP to present authorised information.

TA10 Fittings and Contents Form (2nd edition)

Shortened and now including extra space for solicitors to add their details and space for signature by the seller(s) in line with the revisions made to forms TA6 and TA7. It may also be included in a HIP to present authorised information.

 

Forms withdrawn from sale

The following forms that were published in July 2007 have been withdrawn from sale:

  • TA3 Required Leasehold Information
  • TA11 Additional property information
  • TA12 Buyer information
  • TA14 Leasehold information request

Forms TA11 and TA12 are redundant after the publication of the second edition of form TA6. Forms TA3 and TA14 are redundant after the reduction of leasehold information required in a HIP.

 

Understanding the regulations

Solicitors should refer to the new and existing regulations to ensure that they deal appropriately with any particular transaction.

Read more about the regulations

 

Suppliers of TransAction forms

 

Give your feedback on the TransAction forms

We welcome any feedback on our forms, and will continue to revise and develop TransAction forms to meet the changing requirements of the profession and conveyancing practice.

Please e-mail this feedback or questions to transaction@lawsociety.org.uk .

For advice on the forms contact the Law Society's Practice Advice Service on 0870 606 2522.