solicitor quote - do we need 2 solicitors

cidfenmaria

Hi

I would like to gift a property to my wife and get a few quotes from solicitors some mention we need separated solicitors so we are paying double of what has been quoted.

however a solicitor quote mentions (after I ask) it can represent both of us during the case for the legal fee quoted.

I understand when I sell a property to someone the buyer need his own solicitor but when I transfer the property to my wife (married&live together) we are in a different case?

Please do someone have similar experience?

thanks for any response

Tom99

Is the property mortgaged or owned outright? Do you own 100% and are you gifting your wife 100%.

LandyAndy

About 16-17 years ago I transferred my house from my sole name into the names of me and my wife. As far as I recall one solicitor acted for all parties including the mortgage lender. Not quite the same as a straight gift from one to the other though which might make a difference.

AdrianC

If the same firm of solicitors act for both parties in a normal sale, then there would be chinese walls internally. Given that this is a straight gift, then there should be no issue - assuming it's not mortgaged.

Tiglet2

LandyAndy What you did was a Transfer of Equity (i.e. you remained on the title). Cidfenmaria is (I presume) not remaining on the title, therefore this is being treated as a Sale and Purchase which requires a solicitor acting on the sale for OP and a solicitor acting on the purchase for his wife.

LandyAndy

Tiglet2 wrote: »

LandyAndy What you did was a Transfer of Equity (i.e. you remained on the title). Cidfenmaria is (I presume) not remaining on the title, therefore this is being treated as a Sale and Purchase which requires a solicitor acting on the sale for OP and a solicitor acting on the purchase for his wife.

I thought that might be the case. Thank you.

AnotherJoe

I had something similar with a relative and the solicitor recommended we used two different ones because, I beleive, it was protecting their interest, not because it was in ours.. Eg if there was a dispute we could potentially claim against them. Since there was no way this could happen in my circumstances, we just went ahead and used one

davidmcn

Tiglet2 wrote: »

LandyAndy What you did was a Transfer of Equity (i.e. you remained on the title). Cidfenmaria is (I presume) not remaining on the title, therefore this is being treated as a Sale and Purchase which requires a solicitor acting on the sale for OP and a solicitor acting on the purchase for his wife.

(assuming no mortgage by the "buyer") it doesn't require any solicitor - either or both parties can engage a solicitor if they wish. It (I think) falls within the situations where one solicitor is able to act for both parties despite the potential conflict of interests (though some firms might be uncomfortable with that). The party who is "buying" is the one more likely to want help with the conveyancing.

cidfenmaria

Thanks for the above response the property has no mortgage. I would like to transfer to my wife's name solely and no money involved.

But when I quoted this I have told the solicitor this I will ask this again.