How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Aston Lawyer Your Own Question

Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10234
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
16368554
Type Your Law Question Here...
Aston Lawyer is online now

hi me and my hubby own our home we do have a morgage on our

Resolved Question:

hi me and my hubby own our home we do have a morgage on our home. we only owe around 12 thousand pounds but it is a morgage of course.. now we was visited by a law firm who wants to put in place tenants in common so me and my hubby only own half are home if we die before one and other. we would like our each share to go to our children so that we only have half share in our home if we die...as we believe a home can not be sold for care home fees ect if our children own half the home if the other partner dies before the other. now the lawyer i spoke with was going to charge £935 for this setting up. can u advice me any further can we set tenants in common up with out having this huge fee to pay. is it all legal and would we need to change our will at all. as in our will we have left each other are home ect possesions.
Submitted: 2 years ago.
Category: Law
Expert:  Aston Lawyer replied 2 years ago.

Hello and thanks for using Just Answer.

My name is ***** ***** am happy to assist you with your enquiry.

There are 2 ways that a property can be held-

1. As "Joint Tenants" which means that when one party dies, the property automatically passes to the other through survivorship.

2. As "Tenants in common" which means each party owns a specific percentage share in the property, which share passes on death in accordance with their Will.

You are correct and have been advised correctly, that by changing to Tenants in Common, you can safeguard Nursing Home fees, PROVIDED this is backed up with you both preparing Wills, leaving your 50% share to your children.

I confirm that you are able to change to Tenants in common even though you have a Mortgage. All what is entailed is a simple application to the Land Registry, which most Solicitors would charge approx £50-£100 plus VAT.

I must say therefore, that the fee you have been quoted to change to Tenants in common, is astronomical.

The average cost for preparing Wills and dealing with the conversion to Tenants in Common costs £400 plus VAT.

I therefore suggest that you phone round a few local Solicitors asking for a quote to do your WIlls and the Tennacy in common work, and I am sure you will find a suitable Solicitor to assist.

I hope this assists and answers your question.

Kind Regards

AL

Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10234
Experience: Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
Aston Lawyer and other Law Specialists are ready to help you
Customer: replied 2 years ago.

HI thankyou for your adivice.i did ring straight to my lawyer who holds our wills already and he can do the tennants in common for a fee of £95 plus vat.. so next week we will start sorting this out.. i am just glad i didnt jump in and pay the £935 or i would certainly be kicking myself today. how dare a law firm charge these scandless pricess. thanks again all getting sorted for a very low cost. thankyou again x

Expert:  Aston Lawyer replied 2 years ago.

Hi Johanna,

Glad I could be of assistance to you.

To be fair, most Solicitors are pretty fair, but it is usually unregulated "Will writers" who charge an arm and leg for dealing with matters like yours.

If you ar ehappy with my Answer, I woiuld be grateful if you could leave positive feedback, so I may get credited for my time.

All the Best

AL

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Previous | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice