We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
House sale - payment of half to another party - solicitor unable to provide "banking" service
MrsPorridge
Posts: 2,927 Forumite
Has anyone had experience of the following situation:
House jointly owned by DH and MIL (now deceased). MIL left her share to another family member. House is now under offer. As DH is the legal owner (MIL's name still on deeds), our solicitor informs us that once sold all proceeds go to him and he then has to make the CHAPs payment to the family member. Despite speaking with our bank we are both very wary of having to do this payment - we will need to be checking our account and once money has gone in we will then have to immediately pay out - as other family member will be waiting for that money to go through so they can move simultaneously into their new home (they are living in the house owned by DH and MIL).
Despite assurances from our bank that its a simple and easy process and they will do it for us we are still concerned. Have asked if our solicitor can make the payment to the family member, but he said it constitutes a "banking service" which they are unable to provide.
I am sure that this is not the first time this situation has arisen - and indeed it may be quite common? Can anyone give me reassurance please?
House jointly owned by DH and MIL (now deceased). MIL left her share to another family member. House is now under offer. As DH is the legal owner (MIL's name still on deeds), our solicitor informs us that once sold all proceeds go to him and he then has to make the CHAPs payment to the family member. Despite speaking with our bank we are both very wary of having to do this payment - we will need to be checking our account and once money has gone in we will then have to immediately pay out - as other family member will be waiting for that money to go through so they can move simultaneously into their new home (they are living in the house owned by DH and MIL).
Despite assurances from our bank that its a simple and easy process and they will do it for us we are still concerned. Have asked if our solicitor can make the payment to the family member, but he said it constitutes a "banking service" which they are unable to provide.
I am sure that this is not the first time this situation has arisen - and indeed it may be quite common? Can anyone give me reassurance please?
Debt free and Keeping on Track
0
Comments
-
For solicitor to do this. The other party would need to go through proof of ID etc. If they are not listed in the will then it is fair that solicitor will not do it. If they did then they would be charging you to do it.
Banks make these payments every day. If you are that worried make a £1 payment to the other party, so you know you have the correct details & then bank will simply use same details 👍Life in the slow lane1 -
Is DH the executor?
As @born_again says, if this falls to you, make a small test payment in advance through FPS then your bank can use the same details for what I assume will be a chargeable CHAPS payment.0 -
You say it's jointly owned. Is this right or do you mean tenants in common? If it's the former then legally DH owns the whole house now and doesn't have to give you anything. This might be why the solicitor will not transfer the money to anyone else and is asking you to do it.
0 -
No the family member who was left Mil's half of the house ismebu60 said:Is DH the executor?
As @born_again says, if this falls to you, make a small test payment in advance through FPS then your bank can use the same details for what I assume will be a chargeable CHAPS payment.Debt free and Keeping on Track0 -
Yes, tenants in common. And you are right solicitor says DH is legal owner. However, the will states that Mil's half is given to the family member, so DH needs to pay them their half of the house.housebuyer143 said:You say it's jointly owned. Is this right or do you mean tenants in common? If it's the former then legally DH owns the whole house now and doesn't have to give you anything. This might be why the solicitor will not transfer the money to anyone else and is asking you to do it.Debt free and Keeping on Track1 -
If it's tenants in common then DH owns half only, so I don't believe they should pay out all the money to them. What if you didn't get on and he ran away with it all - that doesn't sound correct.MrsPorridge said:
Yes, tenants in common. And you are right solicitor says DH is legal owner. However, the will states that Mil's half is given to the family member, so DH needs to pay them their half of the house.housebuyer143 said:You say it's jointly owned. Is this right or do you mean tenants in common? If it's the former then legally DH owns the whole house now and doesn't have to give you anything. This might be why the solicitor will not transfer the money to anyone else and is asking you to do it.
They should be following the wording of will or listening to the executor. Unless DH is the executor?0 -
DH is not the executor - it is the family member who has been left MIL's half of the house.Debt free and Keeping on Track0
-
It might be worth querying this again with the solicitor because it just doesn't seem correct. If DH didn't get on with you, then the solicitor doing this would effectively mean the money would be stolen by the other person and then what would you do.MrsPorridge said:DH is not the executor - it is the family member who has been left MIL's half of the house.0 -
Yes, the other family member's share should (if anything) be going to the executor.housebuyer143 said:
It might be worth querying this again with the solicitor because it just doesn't seem correct. If DH didn't get on with you, then the solicitor doing this would effectively mean the money would be stolen by the other person and then what would you do.MrsPorridge said:DH is not the executor - it is the family member who has been left MIL's half of the house.0 -
DH owns half the house and MIL ‘s estate owns the other half that is willed to family member.
The solicitor should be passing DH his share of proceeds and MIL ‘s share of the proceeds should go to the executor.3
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.1K Banking & Borrowing
- 252.8K Reduce Debt & Boost Income
- 453.1K Spending & Discounts
- 243.1K Work, Benefits & Business
- 597.4K Mortgages, Homes & Bills
- 176.5K Life & Family
- 256K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards