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Sister buying me out

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painted
painted Posts: 178 Forumite
in House buying, renting & selling
My mother died recently and left the house to my sister and myself. She wants to buy my share of the property. We have had it valued, settled on a price and everything seems to be going ok.
The solicitors who sorted out some problems with the will, and land registry and who are also doing the conveyancing, are now saying they cannot act for me too.

They can act for both of us as beneficiaries, but not for the transfer of the house into my sisters sole name. I can go down the road of not employing a solicitor for my bit, but what would I need to be aware of please? Are there any pitfalls?
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  • RedFraggle
    RedFraggle Posts: 1,309 Forumite
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    Don't do it. Get a different solicitor
    Officially in a clique of idiots
  • getmore4less
    getmore4less Posts: 46,882 Forumite
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    If she had bought it off the estate there should have been no problem and should have been cheaper.

    As long as you get your cash and she gets title there is no problem, she has the bigger issues if she needs a mortgage.
  • painted
    painted Posts: 178 Forumite
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    Red Fraggle - Its ok saying 'dont do it' but it would be more useful to explain why. Which was my initial question!
    Getmore4less - not sure what you mean by 'if she bought it off the estate'? The house is mortgage free, my sister doesn't need a mortgage to buy me out, she has the cash ready and waiting. It is literally, she gives me the money, my name is taken off the deeds, I presume?
  • G_M
    G_M Posts: 51,977 Forumite
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    edited 2 December 2017 at 12:32PM
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    Who is/are the Executor(s)? The solicitors?

    It is up to the Executors to deal with the Estate, including transferring the property into the relevant name. Easy to do without a solicitor if you and/or sister are Executors.

    Is there a mortgage on the property? this will need paying off first - but again, that is a standard part of the Executor's duty.

    edit: for the benefit of others reading this who are preparing their wills, do not appoint solicitors as Executors unless you have no other option. A friend/famiily who is appointed can always instruct a solicitor to assist them if they wish later, but solicitors managing an Estate is very expensive, and (as here?) can create unecessary issues.
  • painted
    painted Posts: 178 Forumite
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    See reply above, also we are both trustees and the solicitors are dealing with the estate and putting our joint names on the deeds.

    The only thing I am asking is - are there any unforseen problems with transfering the house into my sisters sole name and me getting the money for the 'sale'?
  • G_M
    G_M Posts: 51,977 Forumite
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    painted wrote: »
    See reply above, also we are both trustees and the solicitors are dealing with the estate and putting our joint names on the deeds.

    The only thing I am asking is - are there any unforseen problems with transfering the house into my sisters sole name and me getting the money for the 'sale'?
    You have not clarified who the Executor is?

    And I don't understand why "the solicitors are dealing with the estate and putting our joint names on the deeds." The property should be transferred, by The Executors, from your mother's name into your sister's name. Your sister passes you the agreed sum of money.Simple.

    Unless the solicitors are the Executors, sack them.
  • painted
    painted Posts: 178 Forumite
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    Yes the solicitors are the executers
  • Silvertabby
    Silvertabby Posts: 9,039 Forumite
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    It clearly isn't the case here, but there could be a similar case whereby someone defrauds a vulnerable sibling by forcing them to agree to a very low price.

    Your solicitor may be just covering his/her six by insisting that you have your own solicitor for the transfer.
  • Mojisola
    Mojisola Posts: 35,557 Forumite
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    Silvertabby wrote: »
    It clearly isn't the case here, but there could be a similar case whereby someone defrauds a vulnerable sibling by forcing them to agree to a very low price.

    Your solicitor may be just covering his/her six by insisting that you have your own solicitor for the transfer.

    If a RICS surveyor is employed by the solicitors/executors to give a valuation, that avoids any such issue.
  • painted
    painted Posts: 178 Forumite
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    Im quite happy with the house valuation, I had three done. As it is my sister will have to put a lot of money into the house as it needs a lot of work doing on it. I didnt want to keep the house so I would never have thought of buying her out.
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