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Do you need to pass AML checks to buy a partner's ex out of the house?
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fistfulofsteel
Posts: 38 Forumite
I have enough money in cash to buy the ex out, but have transferred it frequently to take advantage of cash ISA interest rates and not kept any paperwork. I can trace most of the money back to an ISA I held in 2019 but have no idea where it was before that. None of the banks I currently hold accounts with have any records of it. Are money laundering checks required in this (amicable) situation and will the lack of record-keeping be a problem?
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You need to pass AML for almost any transaction these days, but if you can trace back to 2019 it should not be a problem.1
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Not if your not using solicitors/ no mortgage involved0
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I'm no expert, but I think I heard that with some trust this can be a DIY job, without any solicitor involved. No solicitor - no AML checks (?)0
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That would be everyone's preference, if it's possible to do it that way.grumpy_codger said:I'm no expert, but I think I heard that with some trust this can be a DIY job, without any solicitor involved. No solicitor - no AML checks (?)0
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