Deposit Agreements in Scotland: Protecting Your Contribution When Buying Property Together
Deposit agreements are becoming increasingly common in residential property transactions across Scotland. They offer a clear and legally binding way for parties to record how sale proceeds will be divided once the property is sold – especially when one party contributes more than the other to the purchase price. These agreements provide a practical and […]
Know Your (Access) Rights – When are Servitudes Needed?
Why Servitudes Matter When buying or selling a property — especially in rural or semi-rural areas — it’s important to understand whether you need access or use of someone else’s land to enjoy your own. If so, legal rights called servitudes may be required to avoid disputes or complications later. This article explains what servitudes […]
Buying Property Jointly in Scotland: Should You Choose Survivorship or Pro Indiviso?
When purchasing property in Scotland, there are many things you will require to consider. One of the most important things to think about is what you wish to happen with your property when you die. This is particularly important when you are purchasing with another person. There are two ways in which a title can […]
Who is considered a first time buyer?
Buying a home is a significant milestone in many people’s lives. For first-time buyers, taking that first step onto the property ladder can be both exciting and challenging. However, understanding the qualifications and benefits of being a first-time buyer is crucial to make informed decisions. In this article, we will explore what it means to […]
What paperwork is needed when selling a house?
Selling your home can be an exciting but complex process, especially when it comes to the necessary paperwork and legal requirements. Even with the support of a solicitor, having an understanding of the documentation required can help ensure a smooth and successful sale. In this article, we’ll walk you through the key paperwork and legal […]
What are the proposed amendments to the Additional Dwelling Supplement (ADS) legislation?
The Scottish government has proposed amendments to the Additional Dwelling Supplement (ADS) legislation found within Schedule 2A of the Land and Buildings Transaction (Scotland) Act 2012. These proposed amendments are aiming to bring change to the existing framework governing the purchase of additional properties. This summary article will provide an overview of the proposed amendments, […]
Top ten tips to know before you buy property
Buying property is a significant decision that requires careful consideration and attention to detail. Whether you’re a first-time buyer or an experienced investor, navigating the complexities of the property market can be daunting. To help you make informed decisions and ensure a smooth buying process, here are our top ten tips for purchasing property in […]
A Guide to Inheritance Tax
When you die, you may want to leave specific assets to specific people, but having to pay Inheritance Tax may reduce the amount of your estate quite drastically. In 2021/22 a record total of £6.05bn was paid in Inheritance tax. This article will look into ways of estate planning; preventing the taxman from getting his […]
Can I transfer ownership or gift my house to avoid care home costs?
Successfully avoiding care home costs very much depends on individual circumstances, and many schemes and products claim to do just that. But often, these arrangements fail to deliver. Retaining access to your capital assets gives you choice and independence, and one of the main risks of transferring ownership into another’s name, even if they are […]
Gifting your family home, what are the risks involved?
Gifting your family home to your children can have its advantages: potentially mitigating inheritance tax being just one. But as with anything, there are also disadvantages too. What if your adult child gets divorced from their spouse, or dies? Perhaps they’re experiencing financial difficulties or later fall out with you. If you’ve gifted your home […]