Other Services

A solicitor should not only be able to assist you in buying, selling, remortgaging and transferring properties but also offer you additional guidance and services to safeguard your ownership of it.

Joint Ownership Advice

If you buy a property with another person you will own the property as Joint Tenants or Tenants in Common.

Joint Tenants

On the death of one party the property passes automatically to the survivor. If you sell the property, it is usually presumed that you are entitled to the sale proceeds in equal shares.

Tenant in Common

You own a specific share of the property. On the death of one party, that party’s share passes to the person who is entitled to inherit the deceased estate. If the property is sold the sale proceeds are divided in accordance with the share owned.

Ask us to advise you on what’s best for you.

Trust Deed

If you own a Property as Tenant in Common a Trust Deed will set out the proportions and conditions upon which you own a Property.

This is particularly useful:

For unmarried joint owners,

Joint owners who contribute to the purchase price in different shares

For couples who have children by previous relations and wish to protect their children’s inheritance

As an inheritance tax mitigation tool.

Living Together Agreement

This sets out the arrangements co-owners have agreed for sharing a Property.

Often this is linked with a Trust Deed, it can be Such an Agreement can specify who is responsible for the mortgage payments, the cost of improvements and the shares which they receive on the sale of the Property. This is particularly useful when friends purchase a Property together or couples at the start of a relationship who wish to keep matters on a business footing.

Powers Of Attorney

This is a document that authorises someone else to sign a document upon your behalf.

If during the course of the transaction you will not be available to sign documents because of holiday, work commitments, illness etc. then we can prepare a document which authorises some other person to act upon your behalf.

An Enduring Powers of Attorney authorises someone to act upon your behalf if you become incapable of managing your affairs. Such a document is sensible for everyone because you never know when you might have an unfortunately accident or illness. It is particularly useful as you get older, when the likelihood of you requiring assistance more immediate.

Wills

A Will sets out what is to happen to your property and possessions upon your death.

A Will is important whether or not you are buying a house or if you simply wish to put your affairs in order. It s important to specify who inherits your Property belongings, who will act upon your behalf in arranging your affairs upon your death, who should look after your children and how their maintenance will be provided for and whether you can make arrangements to minimise your tax liability.

All Solicitors can advise you on all these matters either at the time you are involved in a Property transaction or entirely independent of it.

Please contact Woodwards Solicitors to discuss your requirements and for an estimate of fees that you are likely to incur.

What to do next

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