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Hi I have homerights on my ex husbands property. My father has agreed to buy the property from my ex husband, but I will need to give him over £100000 as a gifted deposit to do this. The same solicitor is dealing with the sale and purchase but are now asking for more information about the gifted deposit. They are not dealing with my divorce. The solicitors are now saying this may not be possible as the money is not physical money. My father will not have the money to purchase the property until the house is sold. He is essentially using the sale proceeds to buy the same property. The solicitors are saying they don't feel comfortable with this. Please help
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What do you mean by "gifted deposit"?
Where is the £100k coming from? I think this is at the root of the solicitor's problem. Anti money laundering regulations require solicitors to be satisfied about the source of funds. My guess is that you need to work on satisfying the solicitor on this point: you are likely to have the same issues with any other solicitor.
Lawyer (solicitor) - retired from practice, now supervising solicitor in a university law clinic. I do not advise by private message.
Litigants in Person should download and read the Judiciary's handbook for litigants in person: https://www.judiciary.uk/wp-content/..._in_Person.pdf -
It would seem that the solicitors are not being reasonable or helpful. Your father is trying to help, but his assets are within a property, but is the property under offer, just up for sale, or not yet being offered for sale?
If your fathers property is in is name only, then there may be a way for him to temporarily, place a percentage equal to the £100,000 in escrow for the husband, although taxation may be a concern.
You need to be represented legally on this so be careful to ensure that your interests are being looked after correctly.Comment
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