You may wish to buy or sell property from or to a close family member. Sometimes in these cases it is appropriate not to use a contract for sale of land. However generally it is our recommendation that the parties be separately represented by Lawyers and that a formal contract for sale of land be used.
In appropriate cases the purchaser may elect not to obtain certain searches and enquiries and may elect not to raise requisitions. In any case these types of transactions will attract stamp duty regardless of sale price agreed between the parties. The stamp duty is determined according to a valuation of the property by a registered valuer.