Inheritance money

gadget88

So they managed to sell house it now been sold 3 weeks. The money is going to both daughters but they are sharing it with there daughters. Will they send the money to my partner or does a solicitor? Just wondering if there’s any more delays after the move in date to get the inheritance money?

Emmia

How is your partner related to the beneficiaries and/or their daughter's? Is your partner a beneficiary?

DE_612183

The money from the sale will be sent to the solicitor dealing with the sale.

Is that solicitor also dealing as executor?

Who drew up the contract with the solicitor for the sale and what did they say about distribution of funds?

p00hsticks

gadget88 said:

The money is going to both daughters but they are sharing it with there daughters. 

Is this being done by a deed of variation or simply by the daughters receiving the money and gifting it to their children ?

It may be that there are still bills such as utility bills, council tax etc to be settled using the proceeds of the house sale so it may take a while before the final estate can be distributed.

FlorayG

When someone buys a house the money is sent to the vendor's solicitor, who then sends it on to the vendor. If your partner was a co-owner of the house with her sister then the solicitor will send them the money immediately it clears. If they were not owners of the house ( i.e. the house was not left to them AS A HOUSE, they were left a proportion of the estate with the house being sold as part of that estate) then it's not that simple and I don't know the answer

Robin9

gadget88 said:

.....................Will they send the money to my partner or does a solicitor? Just wondering if there’s any more delays after the move in date to get the inheritance money?

People talk of the "executor's year" ...   How long is it since the death ?

Just because the property has been sold doesn't mean that all the financial matters have been cleared up. There may be final utility bills, estate agents, solicitors.

mebu60

The conveyancer handling the sale will, when and if the sale completes, send the money to the executor(s) who will distribute the money in accordance with the will to the named beneficiary/ies after dealing with all estate issues. Sometimes interim payments may be made. Is your partner an executor and/or beneficiary? 

p00hsticks

On 3rd March you were saying that the house wasn't even on the market yet. 
Inheritance money — MoneySavingExpert Forum

Two months is pretty quick to get a house sale to completion, and you are now saying that

gadget88 said:

So they managed to sell house it now been sold 3 weeks. 

So when you say it's "been sold", are you sure that the sale has been completed or is it just that the house has been put on the market and a buyer has made an offer that has been accepted by the executor? If the latter then there's potentially a while to wait yet.....

gadget88

p00hsticks said:

On 3rd March you were saying that the house wasn't even on the market yet. 
Inheritance money — MoneySavingExpert Forum

Two months is pretty quick to get a house sale to completion, and you are now saying that

gadget88 said:

So they managed to sell house it now been sold 3 weeks. 

So when you say it's "been sold", are you sure that the sale has been completed or is it just that the house has been put on the market and a buyer has made an offer that has been accepted by the executor? If the latter then there's potentially a while to wait yet.....

Yes my apologies. The estate is going to the two daughters they had an offer accepted from a first time buyer around 3 weeks ago. I wasn’t sure if she can send the money to divide out if it’s done via a solicitor. 

badger09

gadget88 said:

p00hsticks said:

On 3rd March you were saying that the house wasn't even on the market yet. 
Inheritance money — MoneySavingExpert Forum

Two months is pretty quick to get a house sale to completion, and you are now saying that

gadget88 said:

So they managed to sell house it now been sold 3 weeks. 

So when you say it's "been sold", are you sure that the sale has been completed or is it just that the house has been put on the market and a buyer has made an offer that has been accepted by the executor? If the latter then there's potentially a while to wait yet.....

Yes my apologies. The estate is going to the two daughters they had an offer accepted from a first time buyer around 3 weeks ago. I wasn’t sure if she can send the money to divide out if it’s done via a solicitor. 

That house is not yet sold. 

The time between an offer being accepted & the sale being completed is likely to be at least 3 months, and could be much, much longer.  

Bobblehat

badger09 said:

gadget88 said:

p00hsticks said:

On 3rd March you were saying that the house wasn't even on the market yet. 
Inheritance money — MoneySavingExpert Forum

Two months is pretty quick to get a house sale to completion, and you are now saying that

gadget88 said:

So they managed to sell house it now been sold 3 weeks. 

So when you say it's "been sold", are you sure that the sale has been completed or is it just that the house has been put on the market and a buyer has made an offer that has been accepted by the executor? If the latter then there's potentially a while to wait yet.....

Yes my apologies. The estate is going to the two daughters they had an offer accepted from a first time buyer around 3 weeks ago. I wasn’t sure if she can send the money to divide out if it’s done via a solicitor. 

That house is not yet sold. 

The time between an offer being accepted & the sale being completed is likely to be at least 3 months, and could be much, much longer.  

....And that's provided the prospective buyer doesn't pull out just before exchange of contracts, and have to start over again! Ask me how I know!

Took me nearly two years from the death of my father, to sell the house, and make final payments to beneficiaries!