If there is an existing mortgage in place, it will usually be necessary for both parties to have independent legal representation. In addition, your solicitor may need to represent the mortgage lender. It is standard practice for the same solicitor to represent the transferee and the mortgage lender.
Do both parties need a solicitor for transfer of equity?
Do both parties need a solicitor for transfer of equity? In a transfer of equity, the person being added to the deed must be represented by a solicitor. However, the person who already holds the deed doesn’t have to. It’s quite common for both parties to have their own representation.
Do I need a solicitor to buy my partner out?
Technically, no. Unless there is an existing mortgage in place, it is possible to remove a name from a title deed yourself without the help of a solicitor.
Can a solicitor represent both parties?
The general answer is no. The Solicitors Regulation Authority and Law Society have strict rules in place to avoid what they call ‘conflicts of interest’. … In very exceptional circumstances however the solicitor will be permitted to act for the buyer and seller but only when this will be for the benefit of both parties.
Does my ex need a solicitor for transfer of equity?
If you are considering transferring equity for tax reasons, it is highly recommended that you seek legal advice before taking any action. … If you are looking to transfer equity, it is advisable to obtain independent legal advice from an appropriately experienced property solicitor before taking any action.
Do you need a solicitor to change name on deeds?
Getting the name changed on your deeds is an easy process and you do not need to involve a solicitor. Generally there is no fee to pay either. You simply need to send a letter to the Land Registry office requesting the name change, together with either the original or a certified copy of your marriage certificate.
Can I have 2 solicitors?
Yes, most of the time you can use the same conveyancer for buying and selling – provided that certain criteria are met. (These criteria are set to protect both parties from any potential risks associated with using the same lawyer.)
Do I have to respond to ex’s solicitor?
Just because you’ve received a solicitors letter or an email, it doesn’t mean you have to get a solicitor to reply to it. … Divorce does tend to take over your life, but you don’t need to allow your ex or their solicitor to control you.
Can you pay off someone’s mortgage?
Making a direct contribution to someone else’s mortgage is the easiest way to pay the mortgage of a third party. … Whoever pays the mortgage receives the tax deduction for mortgage interest. The homeowner will no longer be able to claim deductions for payments that you made, but you will.
What are my rights if my name is not on the mortgage?
Real estate owned prior to marriage remains separate property. … If your name is not on your home’s title for these reasons, you would not own the home; neither would you be held responsible for loan repayment or any other lien placed on the property, even if it resulted in foreclosure.
Can a solicitor act for both seller and purchaser?
Effectively, no. A conveyancing solicitor can only act for both a buyer and seller in rare circumstances. … NEVER where there is a conflict of interest, or a significant risk of conflict, UNLESS it is in the best interests of the clients for a solicitor firm to act for both and the benefits outweigh the risks.
Can solicitors advise friends?
Providing casual legal advice to a family or friend can result in major liability, malpractice, or disciplinary action as the non-clients may have reasonably relied on the information given.
Is it OK to use the same solicitor for buying and selling?
Naturally, you can use the same solicitor to act for you in both the sale of your current property and the purchase of another property. The same solicitor is not generally used to act for two parties with conflicting interests (i.e the buyer and seller of the same property), however. … Request a sales valuation today.
Can I throw my partner out of my house?
If your partner is not willing to leave the property, you may need to ask the court for an occupation order to ask them to leave. … You cannot be evicted without an order of the court, however, it may be difficult for you to delay or stop an eviction in these circumstances, even if you have young children.
What happens if you have a joint mortgage and split up?
Paying the mortgage after separation
A joint mortgage means you’re both liable for the mortgage until it has been completely paid off – regardless of whether you still live in the property. If you miss a payment or fall behind on payments, it will negatively affect both yours and your ex-partner’s credit report.
How can I get my ex out of my house legally UK?
If your ex-partner is violent and refuses to leave the home, you can apply for a court order to help you to stay in the home and make your ex-partner leave. This is called an occupation order. Get legal advice from a solicitor, who can help you apply.