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Aston Lawyer
Aston Lawyer, Solicitor
Category: Property Law
Satisfied Customers: 10452
Experience:  LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
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My Mum and I are buying my a Son's property for £144,500 and

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My Mum and I are buying my a Son's property for £144,500 and my Mum is putting £100,000 in and I am taking on the remainder to pay to my Son when we eventually sell the property in years to come(mum is 90) can we legally do this ourselves please or do we have to go through Solicitor which may be difficult as we're not giving mr Son the full amount yet ? Hope this makes sense! Ros Rolfe
Submitted: 1 year ago.
Category: Property Law
Expert:  Aston Lawyer replied 1 year ago.

Hi Ros,

Thanks for your enquiry.

You aren't doing anything illegal, so a Solicitor would be happy to act for you to get the paperwork sorted out. Please note however, that it would be normal for your Son to have his own Solicitor and your Mother and yourself would need to appoint another Solicitor, as it would be unprofessional for the same Solicitor to act for all parties due to the nature of the transaction.

Unless you are familiar with Land Registry practice, it will be hard for you to do it yourselves- there is a set Transfer document you would need to prepare and I am guessing your Son will want to protect his financial interest in the property for the remaining monies you will be paying him in the future- normally, this would be done by way of a simple private Charge over the property, which his Solicitor can prepare.

I hope this assists and sets out the legal position. Please let me know if you require any further clarification.

Kind Regards

Al

Aston Lawyer and other Property Law Specialists are ready to help you
Customer: replied 1 year ago.
Thank you very much and your information has certainly answered my question! Ros Rolfe

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