Transfer of Equity

saluchu

Hi, we are currently in process of buying out partners ex wife from their property.
We have arranged mortgage and have a solicitor etc and ex wife is keen to sort asap and keep her costs to a minimum, so she doesnt want to have her own solicitor and is happy to sign some form of waiver. Our mortgage advisor confirmed that this is ok, however our solicitor is insisting she needs representation and won't proceed without getting this confirmation. Ex wife just wants to agree to the amount she is getting (50% of equity) and for our solicitor to arrange to file any legal documents needed. Is there a legal requirement on this or is it just our solicitors?
Anyone have insight or experience of this at all?

user1977

Your solicitors. You can change solicitors I suppose, but will be easier if she just goes somewhere for some cheap and cheerful advice.

glennevis

All parties need representation and to avoid conflict of interest separate conveyancers. Solicitors duty of care means they won't represent both of you.

If the ex wants to keep costs down could she try the cheapest 'no completion no fee' conveyancing firm she can find?

swingaloo

Its a case of what is fair.  She needs a solicitor because with divorce there could be coercion or she may not understand what she is entitled to (I'm not saying this is the case here) but there is a duty of care on the solicitors part to ensure fairness for both sides.

user1977

glennevis said:

All parties need representation and to avoid conflict of interest separate conveyancers.

The ex doesn't strictly speaking need to be represented, but many solicitors may be reluctant to get involved with a party who is unrepresented (in case fingers are later pointed about the unrepresented party being misled).

If the ex wants to keep costs down could she try the cheapest 'no completion no fee' conveyancing firm she can find?

That's probably not going to be the cheapest option - no need to worry about "no completion" unless the OP's other half and their ex have a reconciliation!