Removing name from property

[Ezdezat]

Hi All,

Looking for some advice here. I’m trying to go through the process of having someone’s name removed from a property which we jointly own (see full thread here;
http://www.askaboutmoney.com/showthread.php?p=1353193#post1353193).

Looks positive that the bank and the other party are happy to change everything into my name (mortgage & deeds). My question is – I’m receiving quotes in the region of 2.4k for legal fees, stamp duty, land registry fees. I knew there would be some costs, but this seems excessive for simply removing someone’s name from a property. Breakdown of the larger costs as follows;

Solicitors fees - €900
Land Registry fees - €775
Stamp duty (1% of half of the property) - €650

Does this sound about right? I am already taking on another half of a property in negative equity, which I don’t particularly want it, and seeing as I already own half of it, it seems like a lot of money to have to fork out?!

Any more clever way of doing this that I’m missing?

 

[Bronte]

Solicitors fees - €900
Land Registry fees - €775
Stamp duty (1% of half of the property) - €650

Two of those costs are set costs. The stamp duty and the Land Registry. So the only possibility of a reduction is on the solicitors fees of 900 Euro. Not sure how much work is being done, so cannot comment on whether it is fair and reasonable. Only way is to try another solicitor, but based on the fact you, the ex, the bank and the solicitor are all ready to go, that's not a good idea.

I guess you're short of cash, but you're in a mess, so just go with it, you're very lucky to be able to get what you want in getting the ex out of the scenario.

 

[Ezdezat]

Hi Bronte, thanks the input. I understand those costs are fixed alright, and I already shopped around for a solicitor, they're all much the same give or take €100.

I guess I hoped that there was a 'cleverer' way to do this, but evidently not. I can pay for it, but of course there are plenty of other things I could use the money for!
It just seems crazy that i would be subject to such high land registry fees & stamp duty, simply to remove a name. I don't have any great legal background (though I expected the legal fees) but geez surely this is just a matter of a few signatures?! 2.4k is silly money for such a simple task.
Everyone wants their pound of flesh, the revenue, the land registry office.

Rant over.