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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 7908
Experience:  28 years as a practising solicitor.
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How much will it cost to transfer land to a neighbour? How

Resolved Question:

How much will it cost to transfer land to a neighbour? How much would the cost for legal documents be to still allow us access to the land as our oil tank is situated on the land?
Submitted: 1 year ago.
Category: Scots Law
Expert:  Stuart J replied 1 year ago.
so do you want to sell the land but still have the right to have the oil tank on there?
I am off-line shortly but will pick this up later this evening.
Customer: replied 1 year ago.

Yes that is the case the neighbours have asked us if they can purchase the land and they have no issue to the tank being there and so we will still need access to it. I also have a further question does having a mortgage cause many issues with selling the land it is probably about 10% of garden size.

Expert:  Stuart J replied 1 year ago.
I am away from my desk at the moment. I have seen your reply and I will get back to you as soon as I have a keyboard in front of me. No need to reply to this post. Thanks
Expert:  Stuart J replied 1 year ago.




I am
sorry, I have just noticed that you are in Scotland. I will therefore transfer
this to Scottish law because the situation is completely different.



Expert:  JGM replied 1 year ago.
Thank you for your question.

I am a solicitor in Scotland and will help you with this.

The a situation is that if the land is part of a larger title which you own at the moment, a plan should be drawn up showing the extent of the land to be transferred to the neighbour. That plan will then be attached to a Disposition which is the title deed that you will grant in favour of your neighbour. The title deed will also reserve a right of access to you for the use and maintenance of the oil tank and all associated pipes and appliances.

Searches in the property and personal registers and possibly in the registers of the local authority and coal authority will be undertaken.

Every transaction is different but broadly I would estimate legal fees of £800 to £1000 plus VAT and search fees of about £150.

If you have a mortgage on your property which extends over the land to be transferred, you will need the consent of your lender and a Deed of Disburdenment of the existing Standards Security. This will incur further fees of about £150 plus Vat and a registration fee of £60 for the Deed of Disburdenment.

The lender may want a survey done as well to ensure that there is sufficient value in the remaining property.

Happy to discuss further. Note that different solicitors charge different rates so you can shop around if you are concerned about the costs. Or you can agree that the neighbour pays the costs if you are doing this as a favour.

I hope this helps. Please remember to leave a positive rating so that I am credited for my time.
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 7908
Experience: 28 years as a practising solicitor.
JGM and other Scots Law Specialists are ready to help you

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JGM
JGM
Solicitor
5216 Satisfied Customers
28 years as a practising solicitor.