With best wishes for a Merry Christmas and a Happy New Year from

everyone at Stewart & Bennett

With best wishes for a Merry Christmas and a Happy New Year from

everyone at Stewart & Bennett

Our Accredited Paralegal Shona Ritchie has been busy once more raising funds for a good cause. Her personal experience of routine screening leading to detection and treatment of breast cancer inspired her to have her head shaved in order to raise funds for Pink Ladies Day.

Whilst the Scottish Government has announced a ‘commitment to an effective system of national rent controls and measures to strengthen tenants’ rights’, we don’t yet know what those controls or new rights will be. In their agreement with the Scottish Green Party, the stated position is to make ‘housing in the rented sector … more affordable and more secure.’

This announcement is the latest of a number of regulatory and tax changes affecting the buy-to-let sector in recent years and its attractiveness as an investment.

We are forever reminding clients that it is a very good idea to make a Will. We always stress all the good reasons why clients should make a Will. We also understand that, for whatever reason, many clients just don’t get round to it. However, there is a downside to not having a Will which we rarely focus on and, with that in mind, feel it is appropriate to present the position if you die and there isn’t a Will.

One of the things that immediately comes to mind when we think about this situation is that when there isn’t a Will, family arguments can frequently arise. Some of these are easily resolved, whilst others cause terrible disagreements. At a time of sadness, the last thing anyone needs is resentment amongst the loved ones left behind. If you make a Will, most, if not all, of this can be avoided.

The legal aspects of buying and selling a house start off with an exchange of letters between the buyer’s solicitor and the seller’s solicitor. These are usually made up of an Offer, a Qualified (conditional) Acceptance and a Final Acceptance. Or, in some cases a number of Qualified Acceptances issued sequentially by each side until a Final Acceptance is issued. This exchange of letters is referred to as the Missives.

This is the process that leads to the creation of a contract to buy and sell a house. The aim is to reach conclusion of missives in order that a binding contract for purchase and sale exists between the buyer and the seller.

You don’t need a Power of Attorney till you’re “old” is a comment we hear frequently, but is that actually true?

Statistically speaking, there is a greater risk of becoming incapacitated as you get older. However, unexpected illnesses and accidents happen. That might mean that if you are incapacitated, your family might find it extremely difficult to manage. It might involve having to have a guardian appointed. This will undoubtedly be stressful, expensive and time consuming.

You see, a Power of Attorney can be a very useful tool to use when unexpected things happen to you. Perhaps it’s a bit like an insurance policy – it’s there when you need it!

We are often asked by our clients, on the closing date, if they should simply accept the highest offer. Instinct says “yes”, but it’s not always as simple as that. You see, price, whilst being very important (and sometimes the most important) element of the sale, it’s not the only thing you need to consider.

Whilst the highest offer is clearly attractive, sometimes, it’s not the “best” offer. You see, whilst price is clearly a very important factor when you’re selling your house, it’s not the only one.

As solicitors, we advise clients every day on the terms of the offers they receive when they’re selling their houses. It is our job to guide you through all the terms and conditions in the offer and explain these to you.

Over time, circumstances can, and usually do, change. When that happens and you’ve already made your Will, it makes sense to review it to make sure it still reflects your wishes. For instance, you may have divorced or gotten married. You might have a new child or grandchild. Your health or financial circumstances might have altered dramatically leading you to review your wishes. There are many more instances when you might consider making changes to your Will. That apart, it’s always sensible to review it regularly in any case – perhaps once every five years or so just to make sure it does reflect your wishes.

You need to remember that your Will is a legal document so don’t be tempted to just add some hand-written notes at the end. That could cause more problems than you might think it will solve! If you used a solicitor to prepare your Will, it will have been properly constructed and your signature would have been witnessed. This formal process ensures your Will is valid and having a solicitor involved helps make sure you didn’t sign it under any form of duress.

We are delighted to welcome Anna Dickson as our new Trainee here at Stewart & Bennett. Anna completed her Diploma in Professional Legal Practice at the University of Glasgow last year having graduated with her LLB Degree from Glasgow Caledonian University the previous year.

Anna, who lives in Dunoon, first worked as an Intern with us for four weeks last year before then being engaged as a legal executive with the firm. This has enabled Anna to gain solid, practical experience before embarking on her Traineeship.

On 26 March 2021, the Langholm Moor community buyout deal was completed. 5,200 acres (2,100 hectares) of land along with six properties was purchased for £3.8m. This is the largest community buyout of land in Scotland.

The Community Right to Buy was brought into law by the Land Reform (Scotland) Act 2003 and we thought we’d have a quick look at what’s involved in Community Right to Buy, who is entitled to buy, what’s involved and when it can happen. It covers the situation when a landowner wishes to sell.

This is not the same as a Community Asset Transfer – we may do an article on that topic later. That covers the situation when a community can seek ownership of publicly owned land even though there were no plans to sell it.

When a family member or close friend dies, it’s always a very stressful time. When this happens, there are some things you need to do right away – like arranging the funeral. You’ll have to let people know about the arrangements and deal with the financial elements involved – and when money is involved, problems are usually close behind.

We normally find out that someone has died when a relative or friend gets in touch with us. Usually, their first question is “Is there a Will?”. If we’re holding the Will, we’ll be able to check whether there are any special preferences for funeral arrangements. If the Will doesn’t instruct any special funeral arrangements or if there isn’t a Will, it’s left to those arranging the funeral to make all the decisions.

Land and Buildings Transaction Tax (LBTT) is to revert to its pre-Covid-19 levels on 1 April. In her Budget statement on 28 January, Kate Forbes, the Cabinet Secretary for Finance announced that the threshold above which LBTT is to be paid would revert to its pre-pandemic level of £145,000 (£175,000 for first-time buyers).

This is a blow to those looking to purchase a new home in 2021 because if they don’t complete their purchase on or before 31 March and they’re buying for more than £145,000 (£175,000 for first time buyers), they’ll pay LBTT starting at 2% of the value of the property over that figure.