Do both parties need solicitors?
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Erica from Brighton
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Conveyancing questions and answers
Question
Do both parties need solicitors if one is buying the other out and transferring deeds and equity?
Answer
In a Transfer of Equity transaction the owner who is buying the other person out must be represented by a solicitor/conveyancer.
The person being bought out can decide whether they want to be represented by a solicitor/conveyancer or not.
We would always recommend that the person being bought out should be represented so that they can receive independent legal advice about the transaction but it will be their decision as to whether they wish to be.
Gareth Brooks, RMNJ Solicitors
Gareth Brooks
RMNJ Solicitors
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Hannah, 09 April 2017