solicitor refusing to transfer my part of house sale to sibling

schoey61

hi, a house belonging to myself and two siblings is about to be sold , we shall each receive a third of the sale proceeds. I have requested that my net third should be transferred to either my brother or sisters bank account. The solicitor has refused, citing "internal policies". it should be said I am British, but live abroad in germany. after some short research there seems to be no legal reason for their refusal. has anyone been in a similar situaution or know the legal situation on this.? grateful for any help

Hoenir

Why are you unable to disburse the monies yourself ?  

schoey61

Hi, the solicitors are handling the sale.. as I understand the sale proceeds will be transferred from buyers solicitor straight into their bank account and from there to us .. I only wish that my "third" be transferred to either my brother or sister (to be sure we are all co-owners).. the solicitors are insisting it must be sent directly to my German bank account, citing "internal policies.. thanks

lisyloo

Seems to me they are acting quite reasonably.
They have a legal duty to make sure things are done correctly.

user1977

schoey61 said:

Hi, the solicitors are handling the sale.. as I understand the sale proceeds will be transferred from buyers solicitor straight into their bank account and from there to us .. I only wish that my "third" be transferred to either my brother or sister (to be sure we are all co-owners).. the solicitors are insisting it must be sent directly to my German bank account, citing "internal policies.. thanks

Quite a common policy. Why can't you just pass on the funds yourself?

schoey61

thanks for your reply, was wondering if anyone knows the actual "legality" of this situation, ie. are the solicitors legally bound to transfer my proceeds into my account or, as I wish into a "third party " account, although my brother and cö-owner can hardly be considered third party. my brother and myself have offered the solicitors to sign a "!liabilty " clause. basically taking responsibility  .. still a refusal . 

prowla

There may be some money laundering rules in-play.

Happypuppy1

you should be able to do this, something like a deed of words.   It is a legal transaction that will require your solicitor and a payment as the third of the property are not your monies until the estate is distributed.  The solicitor’s role is to carry out the terms of any will. 

AskAsk

the solicitors has to make the payment to your own account under AML regulations.  they would only be able to transfer the money into one account if the owners were a married couple.

it does make it difficult if you don't have a UK bank account.  they may be able to make payment to your bank account in Germany but there may be additional fees involved for their time vetting that bank account, if they could even do it.

shame this didn't come out earlier in the process that they would not be able to pay you your share as you don't have a UK bank account.

user1977

schoey61 said:

thanks for your reply, was wondering if anyone knows the actual "legality" of this situation, ie. are the solicitors legally bound to transfer my proceeds into my account or, as I wish into a "third party " account, 

No, they're not legally bound to do anything in particular. It's legal for them to have the policy which they have, it would be legal for them to have a different policy.

schoey61

I,m not sure AML is the problem, and I think the estate agents has already done due diligence on this.. why do I wish to have the money transferred to my brother ? and not into my German account? quite simple, to save on horrendous international transfer fees? 4% mark up from bank (yes it,s true !) plus awful exchange rates.. welcome to the banking world..
I actually owe my brother some of this money, by transferring to him, he can subtract what he is owed, and the rest can be sent on  by a bank or forex trader of  my own choosing, which will amount to savings of thousands of pounds.. I am grateful as a newbie to have received such interest so fast,, thanks,, but I see that I have to find legal advice,,, to be clear, if IT WAS CLEAR, that the solicitors are acting legally, I would drop this conversation and accept it.. but where it seems to be just a matter of "chance" and then I will carry on till I find the answer.. and if necessary stop the payment till it's legally clear.