What is a TA6 Form?
A TA6 form, also known as the ‘Seller’s Property Information Form’, is used to obtain information from the seller to give the intended buyer about the property. This information relates to a number of things such as in relation to boundaries, disputes, works at the property etc.
How is the TA6 Form being reformed?
A new version of the TA6 form is intended to be more comprehensive and will ensure material information is shared between the parties through their Conveyancers. The form includes updated and new questions to incorporate the National Trading Standards Estate and Letting Agency Team requirements.
What are the benefits of the new TA6 form?
The intention of the new TA6 form is to give the buyer more information and to save time in the process by cutting down the number of enquiries a buyer is likely to ask. In particular, the form should give buyers greater clarity on the property that is being purchased. This will allow an extensive amount of information to be collected upfront and will reduce the risk of sales falling through. The hope is that Buyers will also be able make an early decision on whether the property fits their needs and allow for a smoother conveyancing transaction to take place for both parties.
Conveyancers should also benefit from the introduction of the new forms as they will receive all the necessary information early on in the transaction.
The reform has been introduced for all parties in the transaction to work with transparency and for improved collaboration between Conveyancers and estate agents. The material information that will be provided will allow Conveyancers to pass some of the required details to the estate agents to ensure there is more accurate information when marketing the property.
What are the disadvantages of the new TA6 form?
The introduction of the new TA6 form has been heavily criticised as, despite best intentions, Conveyancers believe it will in fact increase delays and prompt more enquiries from buyers. Conveyancers point out that some of the questions do not relate to legal issues and some of the information is better suited to be provided by estate agents or the buyer’s surveyor.
The nature of some of the questions may also make it difficult for sellers to answer, if indeed they can at all. Conveyancers also argue that the questions move to disapply the principle of ‘buyer beware’ and goes against the Law Society’s Conveyancing Quality Scheme and Protocol which were brought in to streamline the process and stop a large number of enquiries being raised, particularly those on non legal matters. Furthermore, sellers may disclose information without the benefit of legal advice which may undermine them and leave them open to additional liabilities (including criminal).
Many Conveyancing Solicitors feel that the new form will ultimately add further complexity in the conveyancing transaction which will delay the process and incur their clients additional expenses.
What’s next?
The new TA6 form will not be compulsory until 15 January 2025 whilst the Law Society consults with property lawyers. However, due to how unpopular the new changes to the form are, there is a possibility that the Law Society may decide not to introduce them or a further revision may result.
