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Ask JGM Your Own Question
JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11123
Experience:  30 years as a practising solicitor.
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I am just about to purchase a house in a private contract which

Customer Question

I am just about to purchase a house in a private contract which I have drawn up with a colleague , both parties have agreed to the terms and conditions, ie deposit them monthly payments for a set time until the balance is paid in full. I have laid the contract out and put a signature block at the bottom for both parties to sign and date then each hold a copy of the document for proof of the agreement.
Is this suffice and a legal document as I do not intend to involve solicitors etc unless I need to and also do I need to record or register this document anywhere under Scottish law as the property is in scotland
Submitted: 3 years ago.
Category: Scots Law
Expert:  JGM replied 3 years ago.
Thank you for your question.

DO NOT UNDER ANY CIRCUMSTANCES enter into this agreement. It will not have the legal effect of purchasing the house. You need properly drawn up missives, legal searches and a title deed registered in the Land Register of Scotland. All of this has to be done properly and the correct procedures followed. You cannot do this without the help of a solicitor. See one immediately.

I am happy to discuss further but I can't stress enough that you have to get this done properly. A house is not like buying a car or any other thing. A house is heritable property and title deeds have to be drawn properly otherwise the transaction will be invalid and you could lose your money.

I hope this helps. Please leave a positive response so that I am credited for my time.