Selling a probate property - do they look into finances of deceased owners??

RnK136

We are selling our parents property. Mum died in 2022, then Dad in 2024.

Mum had given my brother & I some money before she died. I did factor this as gifts into calculating if IHT was payable as it was more than £3,000 and within the previous 7 years. But the estate was under IHT threshold so none was due.

Now the buyers solicitor has said they've been notified of a gift and they are reviewing it.

How? Do they look into finances of deceased owners of a probate property??

I don't understand how Mum giving us some money impacts the sale of the property now?

user1977

RnK136 said:

Now the buyers solicitor has said they've been notified of a gift and they are reviewing it.

Are you sure this has anything to do with a gift by your mother? Rather than the buyer receiving a gift as part of the purchase price?

Keep_pedalling

The solicitors won’t be interested in those gifts, it will a gift to your buyer to help with their deposit they are referring to.

RnK136

Keep_pedalling said:

The solicitors won’t be interested in those gifts, it will a gift to your buyer to help with their deposit they are referring to.

I did think it was something on their side as I could not figure out how they would know about Mum gifting us money, or need to know regarding us selling, but then I wonder why they've even mentioned it to us. Surely that's a private matter with the buyers!

user1977

RnK136 said:

Keep_pedalling said:

The solicitors won’t be interested in those gifts, it will a gift to your buyer to help with their deposit they are referring to.

but then I wonder why they've even mentioned it to us.

Presumably because the complication is causing a delay on their side?

RnK136

user1977 said:

RnK136 said:

Keep_pedalling said:

The solicitors won’t be interested in those gifts, it will a gift to your buyer to help with their deposit they are referring to.

but then I wonder why they've even mentioned it to us.

Presumably because the complication is causing a delay on their side?

Hmmm. Yes, probably.

Flugelhorn

almost certainly they have just discovered a gift to the buyers - they are explaining the delay that will now occur

RnK136

Flugelhorn said:

almost certainly they have just discovered a gift to the buyers - they are explaining the delay that will now occur

Just really puzzled me and assumed it was relating to us, but couldn't figure out how or why! (and our solicitor offered no help, just said they cannot help with financial advice!)

NorthYorkie

Probably they are carrying out money laundering checks on the buyer

theartfullodger

Who,s "they"?? We had to get late brother's income tax return done & tax payment paid plus all the rest e.g. CGT on value increase between death & sale.

RnK136

theartfullodger said:

Who,s "they"?? We had to get late brother's income tax return done & tax payment paid plus all the rest e.g. CGT on value increase between death & sale.

"They" refers to solicitors for the buyers of the property who have mentioned they have been notified of a gift.

All our late parents taxes, etc. have been long done.

There is no CGT. We've got just under the Probate value in the end. We have no gains from it.