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Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 35574
Experience:  I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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Me and my husband jointly own a property which we want to

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Me and my husband jointly own a property which we want to sell. Historically another party who was not included on the mortgage as too old at the time has a 50% share which we are not disputing. As a matter of trust (as her grandchildren don't trust us to give her her share) I need to know the best and quickest way forward. I understand there is a "declaration of trust" but I believe this is costly and time consuming. Is it possible for the conveyancing solicitor to prepare a document that states on completion half of the monies would go into our account and half into hers? This seems like a good solution to me as we would really like to sell asap, thank you

Thank you for your question

My name is Clare

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

have you already appointed a solicitor to deal with the sale?

Customer: replied 2 years ago.
No not yet we just want to get it on the market asap

There are two options.

The simplest is to simply give written instructions to the conveyancer (expressed as being irrevocable) to pay 50% of the equity to this other person.

The Conveyancer can then confirm that they have those instructions to that person at the start of the sale process.

The other is a Declaration of Trust - which need not take time but is superfluous if a sale is imminent

I hope that this is of assistance - please ask if you need further details

Customer: replied 2 years ago.
Thanks Clare, would any solicitor adhere to this if this is our request?

of course

Clare and other Property Law Specialists are ready to help you
Customer: replied 2 years ago.
Thanks again, I knew there would be an easy solution, your speediness of reply is very much appreciated - top marks ��