Tax & Legal

Tax and Legal advice is a pre-

requisite for anyone purchasing

or owning property

A straightforward residential property purchased as an individual or jointly with a partner, may simply need straightforward legal conveyancing services. These are provided by a solicitor or a conveyancing company who check the property title - who owns it, if the owner is able to sell it and if there are any restrictions or defects which may affect you as the buyer or buyers, in the future. Restrictions or defects may affect you financially therefore the conveyancing solicitor or company has a duty to investigate and advise you on whether the property is a sound buy, and make sure you are aware of what you have bought. Recommendation is often the best way to find a solicitor or tax adviser. Price is often not the best criteria; the ‘get what you pay for’ may an old adage but it’s very true. More complex property transactions may need additional advice and as always, this is best taken at the outset so the best advised route can be followed from the beginning. Expensive mistakes nearly always occur because of lack of informed advice from a professional. This is never more so than with ensuring the right purchase entity is structured from the outset and there’s more on this particular subject on the Purchase Structure and Rental Properties & Reselling pages.