Two solicitors needed for land transfer?

john_cappa

I remember reading that the "law society" or someone was trying to change the rules so that if you were selling/transferring land (e.g. a site from father to son) that the son and father would require a different solicitor to act on each behalf so in essence costing twice the fee.

Did this come to pass?

Also how much is the stamp duty on land transfer (father to son).

Cheers

Corkbah

why not leave the land in a will - less cost overall.

ResearchWill

Corkbah wrote: »

why not leave the land in a will - less cost overall.

Fine if the parent is 95 not much good if the parent is 40.

valleyoftheunos

john_cappa wrote: »

I remember reading that the "law society" or someone was trying to change the rules so that if you were selling/transferring land (e.g. a site from father to son) that the son and father would require a different solicitor to act on each behalf so in essence costing twice the fee.

Did this come to pass?

Also how much is the stamp duty on land transfer (father to son).

Cheers

This did indeed come to pass, the idea being to prevent any conflict of interest rather than generate fees.

Corkbah

ResearchWill wrote: »

Fine if the parent is 95 not much good if the parent is 40.

the only difference is time !!

if there is an agreement between father and son then why waste money transferring the title when it will eventually happen.

Indricotherium

Corkbah wrote: »

the only difference is time !!

if there is an agreement between father and son then why waste money transferring the title when it will eventually happen.

You'd have to keep speaking to / pretending to like the parent then though?

ResearchWill

Corkbah wrote: »

the only difference is time !!

if there is an agreement between father and son then why waste money transferring the title when it will eventually happen.

What happens if the father is a widower and he marries at 60 then dies mmmmmm his new wife has certain legal rights. There are buckets of cases where parents and uncles promised to leave stuff to people but changed their minds so you are asking someone to work for years on the basis of a promise that may not be fulfilled.

Procrastastudy

john_cappa wrote: »

I remember reading that the "law society" or someone was trying to change the rules so that if you were selling/transferring land (e.g. a site from father to son) that the son and father would require a different solicitor to act on each behalf so in essence costing twice the fee.

Did this come to pass?

Also how much is the stamp duty on land transfer (father to son).

Cheers

Change the rules? I though undue influence cases had been around forever.

Corkbah

ResearchWill wrote: »

What happens if the father is a widower and he marries at 60 then dies mmmmmm his new wife has certain legal rights. There are buckets of cases where parents and uncles promised to leave stuff to people but changed their minds so you are asking someone to work for years on the basis of a promise that may not be fulfilled.

ok...well my initial suggestion was to put it into the will - no point in transferring ownership if the son will eventually take ownership upon the passing of the father.

john_cappa

As the OP states it is for a site for a house hence has to be transferred now as obviously I can build a house on land I don't own!

john_cappa

valleyoftheunos wrote: »

This did indeed come to pass, the idea being to prevent any conflict of interest rather than generate fees.

It's def in so? I understand the reasoning, to protect someone under pressure to transfer but I am a cynic and see the extra cost incurred to be a convienient benefit for the solicitor.

john_cappa

Indricotherium wrote: »

You'd have to keep speaking to / pretending to like the parent then though?

Lolled!

john_cappa

Procrastastudy wrote: »

Change the rules? I though undue influence cases had been around forever.

I am unsure. I thought it being compulsory to have two separate solicitors was a new rule?

ResearchWill

Corkbah wrote: »

ok...well my initial suggestion was to put it into the will - no point in transferring ownership if the son will eventually take ownership upon the passing of the father.

A will can easily be changed try borrowing money on a will.

Stereomaniac

I don't understand the previous post, what do you mean about borrowing money on a will, sorry?

john_cappa

If I am building a house with a mortgage etc how can I get a mortgage if I don't own the land underneath it is what he is saying!

valleyoftheunos

john_cappa wrote: »

It's def in so? I understand the reasoning, to protect someone under pressure to transfer but I am a cynic and see the extra cost incurred to be a convienient benefit for the solicitor.

Yep defo, about a year ago I think. It does incur extra costs in fairness.

john_cappa wrote: »

I am unsure. I thought it being compulsory to have two separate solicitors was a new rule?

Previously in cases where there may have been a suspicion of pressure or undue influence a Solicitor would have been duty bound to advise the transferring party to seek legal advice after that however they could still have acted for both sides. the new practice direction from the law society is that a solicitor should not act for both sides in a property transaction.

Its a sensible idea, it deals with undue influence concerns and is more transparent and professional. I would guess that after all the carry on with property in the last decade the Law Society wants things to be above board and beyond reproach.

ResearchWill

Stereomaniac wrote: »

I don't understand the previous post, what do you mean about borrowing money on a will, sorry?

It's simple if you own land you can borrow against it, you don't own anything left in a will until the bastard dies.

john_cappa

Ok cheers! Should have done it last year! Budget changes means its a lot more expensive now!

Thanks for all the replies

PartyBanners

So does anyone know the average cost of transferring a site for building a house??

4ensic15

PartyBanners wrote: »

So does anyone know the average cost of transferring a site for building a house??

Total cost or each party's costs?

PartyBanners

4ensic15 wrote: »

Total cost or each party's costs?

it would be total costs as I would be paying for both sides?

4ensic15

PartyBanners wrote: »

it would be total costs as I would be paying for both sides?

I can't help you then.

December2012

have you had the site valued?