Can my house purchase be 'undone'?

Mojisola

What has happened to the money from the house sale?

Is it in accounts in your grandmother's name and under her control?

Steph1962

She had a cheque. My mum and nan have had a shared account for years as nan was never very good with cards, mum used to get her shopping for her and get her cash out. It should go in there i think but she hasnt done it yet cos of the issues now in case she is accused of something else. I think my uncle abroad was then going to open some sort of savings account (he is into finance, banking etc.) just in case she does get better or until she dies then it would be split between the 4 children as per her will.

My sister and uncle abroad thought it was a good idea to try to let her spend it while she is alive, but that is now very unlikely of course.

As far as her dementia goes i don't think she ever had a formal diagnosis until recently.

beecher2

Under no circumstances should your mum put the cheque into their joint account. This is all very very messy - as a priority you need to sort out the court of protection and make sure all finances are kept separate.

Mojisola

Steph1962 wrote: »

She had a cheque. My mum and nan have had a shared account for years as nan was never very good with cards, mum used to get her shopping for her and get her cash out. It should go in there i think but she hasnt done it yet cos of the issues now in case she is accused of something else.

Putting the money into a joint account would not be a good idea because it means the money is just as much your Mum's as it is your Nan's.

If your Nan died and all her money was in the joint account, it would all automatically belong to your Mum - there wouldn't be anything in your Nan's estate to distribute.

This is a case where legal advice is absolutely essential.

Steph1962

I agree but looking online this seems to take weeks, I dont think we have weeks?

beecher2

Steph1962 wrote: »

I agree but looking online this seems to take weeks, I dont think we have weeks?

What do you mean?

vectistim

When it was valued at £230 - by whom - was this an estate agent's putting it up for sale price, or was it a surveyor's arms length sale valuation?

Steph1962

The valuation was done by an estate agent.

Im not sure how long my nan is going to last - it would kill her if she knew this was happening anyway. I dont really understand this bit tbh.

beecher2

Steph1962 wrote: »

The valuation was done by an estate agent.

Im not sure how long my nan is going to last - it would kill her if she knew this was happening anyway. I dont really understand this bit tbh.

If your nan passes away, this mess isn't going to go away I'm afraid.

Mojisola

Did you only get one EA to value the house? You should have had at least three and taken an average.

The house sale doesn't sound like too much of an issue unless your uncle can prove that your Nan wasn't competent to sign the paperwork and didn't understand that the house was being sold.

It's what happens to the money from the sale that's the immediate issue.

Get to a good solicitor.