Transfer of Titles Scotland

brokenlad

Hi there,

Sister and I were left a property in a Will, jointly and both executors. My husband and I talked to him about buying this property so we got a valuation carried out by a reputable local estate firm, not a surveyor as the property was not going on open market. Both were happy at valuation and we signed a letter between us saying such. Engaged with a solicitor who done the legal stuff and signed the disposition. The purchase price was listed in the registration to the ROS but was not listed in the actual disposition itself. No formal missives drawn up to save costs agreed by both parties. The value we agreed was 10k under the actual value for various reasons. After a year he contacts via his solicitor wanting another 5k from us. Any advice.

davidmcn

brokenlad wrote: »

My husband and I talked to him...After a year he contacts via his solicitor wanting another 5k from us.

Think your story has become a bit garbled - who is the him/he you're talking about here?

And what exactly does the solicitor say about the 5k?

brokenlad

sorry for the confusion. Its should read, my husband and I talked to her, after a year she contacts a solicitor asking for another 5k.
Their supposed argument being that she is entitled to half the valuation and not the agreed transfer price. The solicitor acting for both parties during the transfer process confirmed that there was no formal missives drawn up as both parties happy at price and also to save expense.

davidmcn

brokenlad wrote: »

sorry for the confusion. Its should read, my husband and I talked to her, after a year she contacts a solicitor asking for another 5k.
Their supposed argument being that she is entitled to half the valuation and not the agreed transfer price. The solicitor acting for both parties during the transfer process confirmed that there was no formal missives drawn up as both parties happy at price and also to save expense.

So what were the "various reasons" leading to the price agreed and were those documented anywhere?

brokenlad

simply put, no open market sale, and quick sale of our own property. the price was documented which is all thats matters between consenting executors, reasons are not legal.