Can anyone help me and my brothers.
Story is - we have inherited a property (equal shares) from our parents. My younger brother wants to live in the property (and we are happy with that).
The property was owned outright by our parents and our younger brother simply wants to buy out our shares. We have agreed a total value of the property at £240k (so £80k share each). That is pretty well much bang on market value from asking price/sold values as per Zoopla etc.
So first question - does he have to pay stamp duty on it? Obviously the total value is over the lower rate stamp duty level but he owns 1/3rd of it anyway. He seems to think he can just pay us the money and have the house (he doesn't need to get a mortgage so he would simply hand over the cash so it could be 'under the radar').
Second question - does he have to do anything to make the property legally his (ie in case he wants to sell it further down the line?)
He is completely set against using solicitors for some reason so we haven't involved any yet.
Can anyone give me any advice here???

