Buying a property from my sister
I am purchasing a property from my Sister. I had appointed a solicitor for the purchase, but, after obtaining all the search documents (and paying £250 deposit) my sister was informed that the solicitor was barred by the law society from handling sales of leasehold property, so she withdrew from the transaction with this solicitor. I also withdrew from the sale.This original solicitor was instructed by my Partner to give advice on my putting our jointly owned property up as collateral to finance the purchase of my sister’s property. This advice was given to my partner (under my banks’ instruction) and in my presence. The solicitor then said that he would act for me in the purchase of the property. I agreed. He then informed us that he had already agreed to act for my sister for the sale, but said that it was not a problem as he will transfer my sister to a partner in the practice. My partner was then informed by the bank that the solicitor had not acted for her and that she must find another solicitor for the advice. This she did at additional cost of £90. My sister has now appointed another solicitor.The finance has been in place for a year now (waiting to be drawn down). Do I therefore need a solicitor to act on my behalf and if yes, what specifically for? I helped my sister draft the lease, she is also a retired legal exec., I am fully happy with all the terms of the purchase, I also trust my sister, where as, After losing my last house in a “transaction” conducted by a solicitor I am afraid that I do not trust many solicitors, or their charges!
If I understand you correctly, it sounds as if you have most of the angles covered. I think that all parties have to be careful that there is no potential for this transaction to be looked upon in hindsight as “one sided” or an example of anyone taking advantage of another. Perhaps a solicitor would need to be careful; of a potential action of undue influence which might ultimately involve the setting aside of the sale at a later date. However I'm not a lawyer.
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