Selling half home

Natcrystal

Hello,

I'm not sure this is in the right place but it seems relevant. Anyway, after the past week I've been searching for information regarding the topic. Basically, my father died in 2015 and left me half my mum and dads home. Now my mum has met someone and are both living together. Instead of them buying their own home I thought that it would be wise to sell my mums current partner my share of the house. Now my mum and partner have been to the solicitor and I have written a letter of agreement that I accept his offer and that I am happy for this to proceed. Now she had that appointment with the solictor on the 19th of may 17. My mum was going to ask how long all the process was going to take and wether it would be done for around June 20th. This is because I have a deadline for a deposit for a home. But nothing was said and now I am left wondering and waiting and still nothing heard. My mum did say something about the lad registry etc. But all I needed to know was the time scale. Because it's only around 3-4 weeks and I'm depending on the money. Can anyone put my mind at rest and assure me it will be here for 20th June?

Thank you.

teddysmum

Natcrystal wrote: »

Can anyone put my mind at rest and assure me it will be here for 20th June?

Some solicitors are very efficient and act as quickly as possible, while others take their time, perhaps because they have other priorities, are busy, short staffed, on holiday etc.. They also depend on the speed of response from other bodies they need to contact.

Natcrystal

Thanks, I just need some reassurance. I know nothing about this process and it's draining trying to work things out when you know nothing about it all.

-taff

Ask your mother? If she doesn't know, ask her to ask her solicitor?

We don't know whether they have been accepted for a joint mortgage or not. Have you got your own solicotr?

getmore4less

He hands over the money and you give up your beneficial interest,

The legal ownership does not need to be completed at that time.

he does have the cash to do this?
if he needs a mortgage and that has not been sorted that could delay.

Natcrystal

He does have the cash as he has just had to sell his home from a divorce marriage And the mortgage is already paid for. So basically it's a win situation for him.
Asking my mum is something I've already done. But she tells me to just chill 🙄 She doesn't understand that I'm worried. She's to laid back and doesn't see the urgency. Hence why I've resorted to here.
They went on the 19th she took my letter of acceptance (due to me not living in the area), she said they are waiting for land registry and I'm going to have to wait for a phone call. I understand that. But I need a time scale. I've read on here that it's a simple process and then I've read it's not. So I'm filling myself with hope to be knocked down again.

G_M

Let's assume

1) he has the cash - no need for a mortgage, a loan, or for him to sell another property
2) you've agreed a price
3) your legal Title is clear ie you and you mother are both listed as joint owners on the Land Registry Title (if you are not sure, pay £3 to the Land Registry here and check)
4) you all trust each other

If all the above is true, then none of you needs a solicitor. You just

i) transfer the money from him to you
ii)complete the forms below and submit to the Land Registry

See the guidance here and complete
* TR1
* AP1
* ID1

However if you worry you might transfer the property and not receive the money, then use a solicitor yourself to get a contract drawn up first.

If you are not the registered owner, then you'll need to prove to the Land registry that you have the right to sell. Presumably your dad's will names you as Inheritor of 50% of the property? And you (or the Executer of his will) have a Grant of Probate?

getmore4less

there is one potential issue not mentioned.

my father died in 2015 and left me half my mum and dads home.

Did that come with a life interest for your mother?

G_M

getmore4less wrote: »

there is one potential issue not mentioned.

my father died in 2015 and left me half my mum and dads home.

Did that come with a life interest for your mother?

though it appears that mum and the new partner plan to live there, so OP's sale of her 50% would not affect that.

However, it's unclear
* who owns the other 50%
* the precise terms of the will
* whether probate has been grated and the estate distributed (and property re-registered)

Natcrystal

My mum owns 50% & I own the other 50% which would have been my fathers half. The house is paid for and my mum did visit a solicitors when my father died regarding the house. My mum has mentioned something about probate before but she's very hard to explain to or get an explanation from. So I know very little. All I know is that I received 50% & I would have the other 50% when my mum obviously passes. But at this moment I think it would only be right that her and her current partner fully own the house together.

Natcrystal

I cannot believe it could have been that easy. Thank you. I now don't understand why my mum has done it this way and I will probably never know. But what you've said about transfer of money and then fill in the forms is what I've read up on already so why she didn't do that to begin with is beyond me. 🙄 Would have saved her time and money.