Which solicitor to use for shared ownership

scottiescott

I am thinking about taking a share in a property with a friend.
My friend, who will have the majority share in the property and will stay in it, has a solicitor working on the purchase. An offer has been accepted formally. I will continue to live in my own property.
Should I use the same solicitor to facilitate the requirements such as a Declaration of Trust, adding me to the Title Deeds and any other legal niceties or should I engage my own solicitor of many years, who incidentally is acting for the sellers!
This is in Scotland if relevant.
Any advice would be appreciated.
Thanks.

davidmcn

The same solicitor can't act for the seller and buyer (except in very limited circumstances which don't seem to apply here) so you'll need to find someone else anyway. You can use the same solicitor as your friend as long as there's no disagreement about how you're splitting ownership, though I'm not sure they can advise both of you about any Declaration of Trust.

scottiescott

davidmcn wrote: »

The same solicitor can't act for the seller and buyer (except in very limited circumstances which don't seem to apply here) so you'll need to find someone else anyway. You can use the same solicitor as your friend as long as there's no disagreement about how you're splitting ownership, though I'm not sure they can advise both of you about any Declaration of Trust.

Is it possible for the same FIRM of solicitors to act for buyer and seller, albeit with different persons within the firm acting for respective buyers and sellers? I'm sure here in small-town Scotland everybody uses the same solicitor/estate agent!
Just so happens friend is not from here originally so has own out-of-town solicitor.

davidmcn

scottiescott wrote: »

Is it possible for the same FIRM of solicitors to act for buyer and seller, albeit with different persons within the firm acting for respective buyers and sellers?

They shouldn't do, and I'm sure you'd prefer to have someone genuinely independent acting for you. The same firm can't really be giving best advice to both a buyer and a seller, in what's meant to be an arm's length transaction

scottiescott

davidmcn wrote: »

They shouldn't do, and I'm sure you'd prefer to have someone genuinely independent acting for you. The same firm can't really be giving best advice to both a buyer and a seller, in what's meant to be an arm's length transaction

It's a done deal with the seller and just a case of handing over the purchase price. Have also agreed terms of the Declaration of Trust with friend. Just want it formalised and myself added to the Title Deeds. Unless I'm missing something I hoped it would be straightforward.