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What is the process for disputed free proceeds left over from a house sale?
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SingingIntheStreet
Posts: 5 Forumite


Help!
I’m posting on behalf of my friend who sold his house he jointly owned with his ex.
I’m posting on behalf of my friend who sold his house he jointly owned with his ex.
A small amount of cash is left over.
What is the process for the conveyancing solicitor to hand over the cash to the former owners?
The ex has said they want it all, and if my friend wants it (or to split it, or to put it into trust for their daughter) he must go through the courts.
The ex has said they want it all, and if my friend wants it (or to split it, or to put it into trust for their daughter) he must go through the courts.
Is that his only option?
It’s been sat in a solicitors account for almost a year and isn’t much money, not worth court action.
It’s been sat in a solicitors account for almost a year and isn’t much money, not worth court action.
Thanks
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Comments
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Friends ex can go to court and prove they have a right to it all? Then if they win they get all the moneyAn answer isn't spam just because you don't like it......0
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I think the usual process in such a circumstance is to give the entire balance to solicitors of your choosing.4
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diggingdude said:Friends ex can go to court and prove they have a right to it all? Then if they win they get all the moneyHe wants to either split it or put it into a trust for their daughter. They are refusing to do either.It’s a stalemate. I’m wondering if the mandate for paying the free proceeds of the sale should’ve been done in advance.0
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Yes instructions should have been given to the solicitor in advance.I guess the solicitor can only release it either if the owners reach agreement, or the court makes a ruling.But as you say, if the amount involved is small ( = ???) then court and legal fees could swallow it all........1
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fiveacre said:I think the usual process in such a circumstance is to give the entire balance to solicitors of your choosing.0
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SingingIntheStreet said:fiveacre said:I think the usual process in such a circumstance is to give the entire balance to solicitors of your choosing.
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If it isn't much money, then just let the ex have it, and have faith in karma. Life is too short to bicker over money. Money obtained over ill-gains does not gain happiness.
The person with the majority care responsibility over the child should in theory have it, if a decision to split it cannot be reached.Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
If it was known at the outset of the transaction that they were splitting up (or already had) then the solicitor ought to have got this clarified at the start. I think they're allowed to assume it can be split 50:50 in the absence of an agreement to the contrary, but can understand why they might prefer to sit tight.
As above, if they're going to have future financial involvement because of the child, then why not just let mum have it and if necessary account for it in some other way?0 -
pinkshoes said:If it isn't much money, then just let the ex have it, and have faith in karma. Life is too short to bicker over money. Money obtained over ill-gains does not gain happiness.
The person with the majority care responsibility over the child should in theory have it, if a decision to split it cannot be reached.0 -
Thanks for your comments everyone. I think we’ve found a way forward.0
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