Joint Mortgage - Deeds - Selling

Hatti_e

Hi
Advice please if anyone can help?
a) If a property was bought in joint names and has a joint mortgage can an Estate Agent sell the property with the instruction from only one of the parties?
b) And, if that is the case, can the conveyancing solicitors only deal with one party?
c) Who decides how the funds are divided out?
Thank you

Slithery

a) Estate agents generally don't check who owns a property.

b) The solicitor will need authorisation from both owners to complete the sale.

c) Both owners tell the solicitor how the funds are to be split up unless there is a deed of trust in place which already details the split.

user1977

The conveyancers will certainly need both owners to instruct them. Funds are split according to the instructions of the owners. Why are you asking?

Thrugelmir

Estate Agents can only market not sell a property. 

eddddy

Hatti_e said:

a) If a property was bought in joint names and has a joint mortgage can an Estate Agent sell the property with the instruction from only one of the parties?

Most estate agents are members of the Property Ombudsman Scheme. Their mandatory code of practice says:

5e You should take reasonable steps to satisfy yourself that the seller is entitled to instruct you (such as obtaining title information from the Land Registry; declaration of trust; deed of variation; power of attorney) and to sign on behalf of all co-sellers.

Link: https://www.tpos.co.uk/images/Codes_2019_a5/TPOE27-8_Code_of_Practice_for_Residential_Estate_Agents_A5_-_Effective_1_June_2019.pdf

But it's fine for the EA to deal with just one of the owners on a day-to-day basis - or even deal with a nominated representative - maybe  a family member (e.g. the son/daughter of an elderly couple)

Any sensible estate agent would want confirmation that all owners are in agreement over the marketing and selling of the property. Otherwise the sale is likely to fall through, and the EA get no commission.

Hatti_e said:

b) And, if that is the case, can the conveyancing solicitors only deal with one party?

Again both parties would have to sign the instructions, get ID checked, sign the contracts etc. But the solicitor can deal with just one of them on a day-to-day basis.