Probate house change of ownership

Michela

SevenOfNine wrote: »

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.

Thanks, I have received solicitor quotes and now looking to instruct as advised earlier. It was only when I informed the other party that they assured me the house was mine once money was transferred and they were totally offended. I'm not the best at confrontation so just wanted to double check.

nom_de_plume

What you effectively need is a simple but legally binding contract duly signed and witnessed before money changes hands. The same solicitor can deal with land registry too.

badger09

Michela wrote: »

Thanks, I have received solicitor quotes and now looking to instruct as advised earlier. It was only when I informed the other party that they assured me the house was mine once money was transferred and they were totally offended. I'm not the best at confrontation so just wanted to double check.

There needn't be any confrontation involved.

Just explain to the other party that in order to protect the legal position of both of you, you are using a solicitor to handle the transfer of the property.

After reading your other thread, I would also strongly advise that you get a proper RICS valuation of the property. That way, there should be no argument about the value of the property and therefore the amount of the other party's share.

Michela

nom_de_plume wrote: »

What you effectively need is a simple but legally binding contract duly signed and witnessed before money changes hands. The same solicitor can deal with land registry too.

Thanks. Some solicotors have said they won't do it unless the other party instructs a solicitor. They won't do that. One said they can do it and can represent both parties, another said it would be a conflict of interest to do that.

So already going down this road seems full of contradictions.

I just want it done in the quickest and robust way possible.

Anyway it is what it is, just need to dive in and get it done.

hb2

We have a house that we own with another couple, they are buying us out. We trust them and they trust us but it still needs a solicitor to make sure everything is done properly.

The sols our friends are using have sent us a letter to sign saying that we are happy to continue without independent legal advice and to confirm that they are working for our friends only. We just have to sign the forms and arrange someone to conform our identity for the Land Registry.

Even a small house in a cheap area is worth a considerable amount of money, it would be foolish to risk messing things up for the sake of a relatively small solicitor's bill!

nom_de_plume

Michela wrote: »

Thanks. Some solicotors have said they won't do it unless the other party instructs a solicitor. They won't do that. One said they can do it and can represent both parties, another said it would be a conflict of interest to do that.

So already going down this road seems full of contradictions.

I just want it done in the quickest and robust way possible.

Anyway it is what it is, just need to dive in and get it done.

I'm pretty sure a decent solicitor could draft up a document that could be accompanied by a cheque with clear and explicit instructions that encashment of the cheque confirmed acceptance of the terms and conditions therein. However I stand to be corrected lol.


Perhaps it's best placed with the solicitor who will represent both sides. That way the solicitor holds the cheque and releases it only upon signature.

Michela

nom_de_plume wrote: »

I'm pretty sure a decent solicitor could draft up a document that could be accompanied by a cheque with clear and explicit instructions that encashment of the cheque confirmed acceptance of the terms and conditions therein. However I stand to be corrected lol.


Perhaps it's best placed with the solicitor who will represent both sides. That way the solicitor holds the cheque and releases it only upon signature.

Thank you. I have instructed one now, so I hope it's a simple process.

Yorkshireman99

nom_de_plume wrote: »

I'm pretty sure a decent solicitor could draft up a document that could be accompanied by a cheque with clear and explicit instructions that encashment of the cheque confirmed acceptance of the terms and conditions therein. However I stand to be corrected lol.


Perhaps it's best placed with the solicitor who will represent both sides. That way the solicitor holds the cheque and releases it only upon signature.

Very difficult or impossible since the issuing of the cheque itself means that the drawer automatically is making an unconditional undertaking that it will be paid. The QP should just use a solicitor. In any case the same solicitor cannot legally represent both sides.

SevenOfNine

hb2 wrote: »

We have a house that we own with another couple, they are buying us out. We trust them and they trust us but it still needs a solicitor to make sure everything is done properly.

The sols our friends are using have sent us a letter to sign saying that we are happy to continue without independent legal advice and to confirm that they are working for our friends only. We just have to sign the forms and arrange someone to conform our identity for the Land Registry.

Even a small house in a cheap area is worth a considerable amount of money, it would be foolish to risk messing things up for the sake of a relatively small solicitor's bill!

Now there's a plan that looks suitable.

Michela

Yorkshireman99 wrote: »

Very difficult or impossible since the issuing of the cheque itself means that the drawer automatically is making an unconditional undertaking that it will be paid. The QP should just use a solicitor. In any case the same solicitor cannot legally represent both sides.

I have been told they can represent both sides, not everyone will do it due to the risks but this should be straight forward.