‘Moving in Together’ - Key Issues for Conveyancers
You may receive instructions in a conveyancing matter where there are two or more buyers intending to move into the property. It may be the property is already owned by one of them. What might at first seem to be a straightforward transaction is actually fraught with potential pitfalls - minefields such as conflicts of interest, acting for both parties, undue influence and fraud. Your clients probably won’t see any of this, but your task is to avoid future difficulties, litigation and the attention of your regulatory bodies.
There are many different ‘moving in together’ scenarios - it is timely to look at some of them to be able to spot where things might end in tears.
What You Will Learn
This webinar will cover the following:
- SDLT 3% surcharge implications on the purchase of a ‘granny flat’ or annexe
- Conflicts of interest
- ‘Gifted deposits’ and inheritance tax implications
- Wills and Inter-family disputes, other offspring
- Where are we now on joint ownership? Declarations of trust and problem cases
- Practical difficulties, aging and social care
- A look at the Law Society Guide to ‘Moving in Together’
- Mortgage problems - other occupiers, sharing possession’ covenants, equity release
- Fraud - is the person in front of you really the spouse or parent? A fraudster ‘moving in…’ Dhillon v Barclays Bank
- Pre-nuptial agreements and cohabitation agreements
- The exit route if things do not work out - who has authority to sign the contract? Can a parent evict the offspring, or can the offspring evict the parent?
This webinar was recorded on 24th February 2021
at your organisation