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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
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My Partner of 10 years has recently inherited a substantial

Customer Question

My Partner of 10 years has recently inherited a substantial amount of money from his Mother. He decided that he would like to gift his current property to me and buy two other properties as a development opportunity. The gifted property is valued at £180.000.
We thought that this would be a strange request to put to the Solicitor but we were assured that this happened frequently.
I paid £300.00 for the search and thought that this would be quite a straight forward procedure.
However, my Partner's Solicitor received a letter from mine saying that he was going to declare insolvency and that as a result of this he would have to pay a perpetual and ever increasing insurance on the property. Despite no longer owning it.
Insolvency was never discussed with My Solicitor and is clearly not the reason for my Partner gifting me the Property.
Have I been misinformed by my Solicitor
Submitted: 8 months ago.
Category: Law
Expert:  Clare replied 8 months ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further information first

I am not sure I understand what has actually happened.

Your partner is transferring the property into your name - but what has happened now?

Customer: replied 8 months ago.
I have halted the proceedings for the moment as I do not want him to declare himself insolvent. Why should there be any suggestion of this from the Solicitor when he clearly is not.
Expert:  Clare replied 8 months ago.

For clarity - your solicitor has asked him to provide insurance to cover the position in the event that he is declared insolvent within the next five years - is that correct?

Customer: replied 8 months ago.
No, it appears to be a permanent insurance on the property, despite not owning it.
Expert:  Clare replied 8 months ago.

What does the letter say exactly?