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JGM, Solicitor
Category: Scots Law
Satisfied Customers: 16365
Experience:  30 years as a practising solicitor.
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Have a question about transfer of equity, scotland, none, no

Customer Question

Have a question about transfer of equity
JA: Where is this? It matters because laws vary by location.
Customer: scotland
JA: What steps have been taken so far?
Customer: none
JA: Anything else you want the Lawyer to know before I connect you?
Customer: no
Submitted: 19 days ago.
Category: Scots Law
Customer: replied 19 days ago.
Hi doing a transfer of equity with my brother. Who is moving out in a few weeks after completion.Due to illness
Now my broker has said if he is still there on completion day mortgage could be refused as person coming off mortgage is not allowed to stay in home.
Am confused is it only on completion day to allow vacant possession by law if so he can stay with other family friend's for a few days.Then come back until his own house is ready.It does say vacant possession in the contract. THERE IS NO OTHER LENDER I CAN GO TO so don't want to have any problems have you ever heard of this i assume if he isn't there on day of completion the sale is with vacant possession
Expert:  Virtual-mod replied 19 days ago.

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Expert:  JGM replied 19 days ago.

Thanks for your question. I am a solicitor in Scotland with 35 years of experience in private practice and I hope that I can help you with your question today. Let me have a quick look at your question and I will either give you an initial answer or ask you for further information. I aim to respond as quickly as I can but sometimes I may want to take a little time to consider your question so as to give you the best possible answer.

Expert:  JGM replied 19 days ago.

If it was a spouse or civil partner and the house was being transferred after a divorce or dissolution then I could perhaps begin to understand the position. However this is your brother and after transferring the title he has no statutory occupancy rights, is not a tenant and would be staying there on a grace and favour basis. And the lender isn’t going to check up! Very strange but I would not worry too much about it. You’re entitled to have your brother stay as a guest until his new house is ready.

Expert:  JGM replied 19 days ago.

I hope this helped you today. Please do let me know if I can clarify anything. I am always happy to help. You are always welcome to ask a follow up question if it will help you further.