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Selling house and issue with transfer of funds
hivoodoodoll
Posts: 90 Forumite
I’ll try to make this concise.
Mother passed away last year. The house she was living in was left in trust to myself and my sisters by my father and my mother had a benefit in kind.
We put the house on the market and exchanged yesterday with a completion date of next Tuesday.
The problem now is that when my mother passed away I opened up a current account to sort out all the estate funds. It was easier for me to do this as one of my sisters lives in America and we were told we could not open an executor account until we had grant of probate.
When we put the house on the market the conveyancing solicitor said the best thing to do would be for our solicitor who sorted probate to receive the house funds and then transfer it to us.
My sister wrote to them and chased on a variety of occasions and today they have told us that they can’t receive the funds as the house, although with parts of the will, was not part of my mothers estate.
We received the email regarding this at gone 5:30 and so can’t ask the conveyancing solicitor as to what we should do until tomorrow which is why I thought I would drop this form a line to see if anyone could help.
Mother passed away last year. The house she was living in was left in trust to myself and my sisters by my father and my mother had a benefit in kind.
We put the house on the market and exchanged yesterday with a completion date of next Tuesday.
The problem now is that when my mother passed away I opened up a current account to sort out all the estate funds. It was easier for me to do this as one of my sisters lives in America and we were told we could not open an executor account until we had grant of probate.
When we put the house on the market the conveyancing solicitor said the best thing to do would be for our solicitor who sorted probate to receive the house funds and then transfer it to us.
My sister wrote to them and chased on a variety of occasions and today they have told us that they can’t receive the funds as the house, although with parts of the will, was not part of my mothers estate.
We received the email regarding this at gone 5:30 and so can’t ask the conveyancing solicitor as to what we should do until tomorrow which is why I thought I would drop this form a line to see if anyone could help.
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Comments
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Need to edit all the 'they' and them' especially in the second to last paragraph.
Presumably we is 'we three' or is it we executors (you and solicitor) of your mothers estste?
Who are/ were the executors of your fathers estate?
What has your current account got to do with the price of rice?Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0 -
Firefox, updated so it it clearer for you.
My father died in 1980 so I don’t really think it’s relevant who the executors were then.
As mentioned above I open the current account because I couldn’t open an executor account because we didn’t have probate. I was then told by the conveyancing solicitor that they could only transfer the funds from the house sale into an executor account which is why they advised us to get the funds transferred into the solicitors account that was dealing with probate0 -
Sorry, not sure what the question is. Is it just about opening a suitable bank account? Or the power to sell the property? Probably best you just speak to the solicitors tomorrow anyway.0
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Did you get probate in your name - did your brother and sister reserve power?
I’m in a similar position to you. I got probate in my name and haven’t been told I need the money paid into an executor account. It’s just being paid into my account and I’ll send my siblings their share at a later date.
I hope that’s right as we are due to exchange shortly!0 -
Who are the trustees of the trust?0
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1) who is/are the executers of your moher's estate?
2) who is/are the trustees of the property following your fathr's death?
3) Since your mother did not own the property, why do you and/or the sale solicitor) want to put the sale money into either your Estate current account (managing your mother's estate) or send it to the probate solicitor (exeuter?).
4) This money is not part of your mother's estate.It is owned by you in trust.0 -
hivoodoodoll wrote: »Firefox, updated so it it clearer for you.
My father died in 1980 so I don’t really think it’s relevant who the executors were then.
As mentioned above I open the current account because I couldn’t open an executor account because we didn’t have probate. I was then told by the conveyancing solicitor that they could only transfer the funds from the house sale into an executor account which is why they advised us to get the funds transferred into the solicitors account that was dealing with probate
I think it is, as does GM for the same reason.
Nothing has changed with the second last paragraph.
Good luck, I am out.Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0 -
Timotei75 probate was in my and my sisters name. If it is only in your name you shoulda be ok.
I had opened a separate account for the estate funds to be paid into.
I have just found out from the conveyancing solicitors that as long as the have a letter from my sisters they will be happy to pay into this account.0
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