Probate house change of ownership

Michela

Hi,

My father passed away and left me part ownership of the property, along with someone I don't know very well. We have done all the probate ourselves.

I have agreed to buy the other persons share of the property.

Now probate is granted should I get a solicitor involved to finalise the change of ownership of the property from my dads into my name?

If I did it myself, I would give a very large sum of money over and then have to rely on the other person to change the ownership.

I hope it would all be straight forward and I'm sure it would but want to ensure whatever process is used protects me from ending up in a bad situation with no recourse.

I hope my question makes sense.

Alter_ego

Don't pay till ownership is transferred. It's the same as completion in a normal house buy.

Michela

Alter_ego wrote: »

Don't pay till ownership is transferred. It's the same as completion in a normal house buy.

Thank you. This was my thinking but they don't wish to do that, and want the money first.

I can appreciate their side too, in terms of them worrying I wont pay up.

Maybe it is time to get someone legal to manage the process

Tom99

Email a few local solicitors I am sure they will sort it for you.

getmore4less

Do you need a mortgage?

Michela

getmore4less wrote: »

Do you need a mortgage?

No mortgage, I have the money.

Thanks

Mojisola

Michela wrote: »

Thank you. This was my thinking but they don't wish to do that, and want the money first.

I can appreciate their side too, in terms of them worrying I wont pay up.

Maybe it is time to get someone legal to manage the process

Definitely - as neither of you trust the other, you'll have to pay a solicitor to deal with it.

Michela

Hi,

I have an update question regarding this.

The person I need to buy out isn't happy that I want to instruct a solicitor and says I should just put the money into their account. They just want the money now.

They said at that point the house is legally mine.

But in my mind the house isn't mine until the deeds have changed.

Can someone outline the risks of not having a solicitor please?

For example if I put the money in their account today and tomorrow they were hit by a bus or vanished off the face of the earth. What would happen?

In my mind if just makes sense so we are both covered , obviously there is a cost which I will pay.

I feel so ground down by this whole process.

Any advice would be welcome.

babyblade41

You have to get a solicitor and never hand over the money until completion. As above , no different than buying any other house.

I wouldn't hand over the funds before completion in a house sale so why would it be different here.?
A solicitor will deal with LR and everything else, not sure why this other party wouldn't want the same is a little dubious to say the least.

For the relatively small amount the solicitor will charge you'd be very silly if you didn't employ the professionals to do it legally and properly

Yorkshireman99

Michela wrote: »

Hi,

I have an update question regarding this.

The person I need to buy out isn't happy that I want to instruct a solicitor and says I should just put the money into their account. They just want the money now.

They said at that point the house is legally mine.

But in my mind the house isn't mine until the deeds have changed.

Can someone outline the risks of not having a solicitor please?

For example if I put the money in their account today and tomorrow they were hit by a bus or vanished off the face of the earth. What would happen?

In my mind if just makes sense so we are both covered , obviously there is a cost which I will pay.

I feel so ground down by this whole process.

Any advice would be welcome.

The advantage is that you will not mess it up and lose your money. Stop wondering and get a solicitor.

SevenOfNine

It appears you are being given the same advice by everyone here, you need a solicitor. Good advice & if I were you I'd just get on & take it.

If this is not dealt with properly you will have handed over ££££, & then be left chasing this person, who you do not know very well, to either complete the proper process for selling you their share of this property, or give you your money back.

If, as you've indicated, this person just wants the money as quickly as possible, why are they adverse to you consulting a solicitor at your own expense? I'd say that is certainly the safest option for you, they don't seem to be offering to sign their share over to you first.

You don't know enough, or know this person well enough, to be confident that it will be done in a legally binding manner, so why not ring a few solicitors & get some idea of the cost & timescale.