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

silvercar

RnK136 said:

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.

Sounds like the gift is to the buyers. Often Mum/ Dad helpfully gifting a deposit.

martindow

Agree with the above, but wills are public documents and anyone can pay a fee to find out how an estate was distributed.  Unless you're in the royal family who conveniently have theirs inaccessible ...

https://www.gov.uk/search-will-probate

RnK136

martindow said:

Agree with the above, but wills are public documents and anyone can pay a fee to find out how an estate was distributed.  Unless you're in the royal family who conveniently have theirs inaccessible ...

https://www.gov.uk/search-will-probate

Yes, of course, but my question was about money "gifts" before death.
I obviously misunderstood that it is a gift implication on the buyers side, not ours or anything to do with the property itself.

kingstreet

Your buyer's solicitor has contacted you? Directly or via your solicitor?

RnK136

kingstreet said:

Your buyer's solicitor has contacted you? Directly or via your solicitor?

No, not directly - it was comments that came back via our estate agents enquiring as to why progress is slow.

The buyers solicitors commented about being notified of a gift and I just assumed this was related to us and it had flagged up on some search or another.

But now I understand it must mean the buyers are using a gift for funds and that is causing delays.

If our solicitor had explained what this meant to me I wouldn't have been confused in the first place, but they just said "we cannot comment on financial matters" and I was trying to figure out what was going on.

Albermarle

silvercar said:

RnK136 said:

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.

Sounds like the gift is to the buyers. Often Mum/ Dad helpfully gifting a deposit.

 Normally though it would not significantly hold up the conveyancing process.
The gift might not be straightforward to prove where it came from. Another country for example that would take more time to sort out than normal.