A few years ago I was told by a solicitor something along the lines of it was easier (legally administratively) to sell a house that had two owners rather than just one. He said something about if there was only one owner then the selling solicitor had to become a legal owner temporarily to effect the sale.
Can anyone cast some definitive light on this? (It is entirely possible that I'm completely mis-remembering or that I'm mixing it up with something else!)
TIA
MayLix
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Selling a house
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Re: Selling a house
The basic statement is completely untrue. It's always easier to act for one person rather than two if only because the solicitor has to deal with just one person - it's amazing how often a husband and wife give completely contradictory instructions! - and documents require just one signature.
I suspect the situation you're describing is where one of two tenants-in-common dies. In that case an additional trustee has to be appointed to give a valid receipt for the sale price, and the solicitor is often appointed as the co-trustee.
I suspect the situation you're describing is where one of two tenants-in-common dies. In that case an additional trustee has to be appointed to give a valid receipt for the sale price, and the solicitor is often appointed as the co-trustee.
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Re: Selling a house
Clitheroekid wrote:The basic statement is completely untrue. It's always easier to act for one person rather than two if only because the solicitor has to deal with just one person - it's amazing how often a husband and wife give completely contradictory instructions! - and documents require just one signature.
I suspect the situation you're describing is where one of two tenants-in-common dies. In that case an additional trustee has to be appointed to give a valid receipt for the sale price, and the solicitor is often appointed as the co-trustee.
Yes that makes sense, as that was the situation we were dealing with at the time: 2 tenants in common, and 1 dying. Thanks for the clarification and explanation. Have a virtual pint!
Maylix
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