by Sunni2185  20/10/2018  233 Page Views
1 Comments  Commercial law, litigation, contracts, IP, property law
Monday is meant to be settlement day for our purchase of a property but yesterday(Friday) our solicitor informed us that due to a mistake made by the realestate agent whendrafyong the contract that the seller is listed as a company but whilst conducting title checks it was found that the seller was in fact a trustee. The issue arises for us because we have been informed that because they are two legal entities if we were to go ahead and sign the contract on settlement day that we may if stayes and revenues were to assess the transaction, be liable for another set of stamp duties and interests. We were recommended to have a deed of rescission drawn up to easily fix this mistake however the sellers solicitors have flat out refused to compromise as they stated that there is no need for a deed of rescission, but rather they have offered a variation of contract ??? My solicitor isn’t answering her phone, I have no feedback or options and come 7am Monday I am expected to sign a settlement on a property which may or may not be very costly to us in the future all because the seller doesn’t feel like it. Please help