Inherited house sale

Pearly_Queen

I have just sold my late father’s house. I share the inheritance with my sister but as I applied for probate the house sale has been managed by me.
I have purchased a flat and my sister has purchased a house, the proceeds from the sale are being used for both.
As the money left over from the house sale will come to me I would like advice about how best to get the money to my sister so that she can pay for her house.
We have used the same conveyancing firm for the sale and both of our purchases.
My sister is buying her house outright with the money, cash buyer.
I have part proceeds and part mortgage to buy my flat.
There may be a simple answer but I just do not know the best way to proceed, as the house sale is in my name the money has to come to me.
Would be grateful for any advice, this must be a common occurrence.
thanks

JGB1955

Surely the house sale proceeds have gone to 'The Executors of XXXX'?  'The Executors' then write out a cheque to your sister, and another to you.

Pearly_Queen

Hello. We are both on the will but I applied for the probate so it is all in my name and coming to me, in my case minus my purchase so the money left over is my sister’s.
I had hoped that the conveyancer could just transfer the proceeds to my sisters house sale but as she did not do the probate (it was simpler at the time for one of us to do it and she deferred) the money has to come to me.

davidmcn

Pearly_Queen said:

Hello. We are both on the will but I applied for the probate so it is all in my name and coming to me, in my case minus my purchase so the money left over is my sister’s.
I had hoped that the conveyancer could just transfer the proceeds to my sisters house sale but as she did not do the probate (it was simpler at the time for one of us to do it and she deferred) the money has to come to me.

Ok, so wearing your executor hat you transfer your sister's share to her. The method you choose to use doesn't have anything to do with the fact it's an inheritance. Simplest method may be to transfer it direct to sister's solicitor, if she's nearing the point of needing the funds.
Bear in mind her solicitor will need to check the source of funds for anti-money-laundering purposes, so you are likely to be asked for ID, bank statements, evidence of probate and property sale etc.

Pearly_Queen

That sounds like a good option, as her solicitor has done my house sale and my purchase it may be ok from the money laundering check as she has all of those documents from me already.
Thanks I will look into it.

xylophone

The money will initially go to the solicitor who handled the sale?
Write to the solicitor (enclosing copy will and probate) and instruct him to pay the money due to your sister to the solicitor handling her purchase with any balance to her.