What is TA6 Form?
A TA6, also known as Property information form, is a standardized document used in residential property transactions across England and Wales. Its primary purpose is to provide potential buyers with comprehensive information about the property they are interested in purchasing.
The compulsory implementation of the TA6 Form (fifth edition) (2024) has been postponed until February 2025.
How is the Form being re-formed?
Previously, there was a high risk for misrepresentation if inaccurate information was provided. An updated version of the TA6 form is intended to be more comprehensive and will ensure material information is shared between parties through their Conveyancers. The form is intended to be more detailed and includes updated and new questions to incorporate the National Trading Standards Estate and Letting Agency Team requirements.
Benefits of the New TA6
- Provider the buyer more information
- Cut down the time spent on raising enquiries
- Provide buyers clarity on what they are purchasing
- Provide buyers the opportunity to make early decisions on the property and if it fits their needs.
- Improve transparency
- Encourage agents to ensure material information is shared with clients and on their websites.
Disadvantages of the new TA6
- Conveyancers believe that it will increase delays as the new form is thirty-two pages.
- Questions are difficult for sellers to understand.
- Sellers may disclose too much information without legal advice, which could expose them to greater liability.
For further information on this topic or on any other legal area, please contact John Szepietowski or Kay Stewart at Audley Chaucer Solicitors on 01372 303444 or email admin@audleychaucer.com or visit our Linkedin page.
This information is correct as at December 2024
Gaina Kapoor
