Probate property

[Zapzep]

I had an offer accepted on a property. When I viewed I asked about the circumstances of sale and was told it was a deceased estate. I completed all the I’d checks and received a memorandum of sale, only to receive a call from the agent advising me that the property has yet to go through probabte that would take 16 weeks? Does anyone know anything about this I can’t go ahead if it is going to take 6 to 9 months even before the conveyancing process can start?

@Mildura @Chocolatelabradorsarethebest
The legislation used by anti money laundering supervisors revolves around who the supervisor accepts as the 'customer'. This is the actual beneficial owner of the property and therefore cannot be someone who is 'claiming' they will own it after probate is through.
Estate agents are also expected to perform land registry checks and as that check will prove the person on the probate document is not the beneficial owner of that property, the EA hasn't completed their CDD checks sufficiently. CDD is covered by regulations 27 and 28 of the MLR2017.

The named person(s) in the probate document could be deemed legally unsuitable to deal with probate at any point in the process and be removed.

Have you not seen the many news stories over the last few years about people selling houses they don't own? There have also been several probate cases. Some EA's will market AND sell the property before probate is through - just because yours doesn't allow it to complete doesn't mean they're following the required legislation.

Anyway, given that both of you don't believe me, I won't be explaining further.

The property has already been on the market for a while, why would they wait until they got a buyer before starting the conveyancing process?

But executors don’t own or claim to own the house, even after probate is granted. The ‘owner’ of the house continues to be the deceased person’s estate: the executor(s) or administrator(s)are just managing the sale. Even if the executors are also the beneficiaries of the will, they’re not listed as owners.
I’m sure that in an ideal world any EA would have a grant of probate before starting to do anything, but practically I can’t see how or why people should be prevented from marketing a house, especially in a slow-moving market and when probate takes a long time to be granted. Houses could be empty for up to a year, with all sorts of implications for Council Tax, inheritance tax, and maintenance of the house. Of course it can’t be SOLD, but marketing is not selling. Removing an executor is extremely rare, but even if it happened it’s not going to make marketing the house illegal or a money-laundering activity.
I’ve actually only come across one recent news story about someone fraudulently selling a house they didn’t own. But that was not an executor of a will. I just don’t see how that could happen.

Totally agree with you @NewFriendlyLadybird .

Being named Executor in the Will grants permission for the Executor to administer the estate, including putting the house on the market if needed.

The conveyancer acting in the sale, will do their own ID and AML checks to satisfy themselves that the Executor is who they say they are. The conveyancer won't want to get sued so they do have to follow all anti-money laundering rules and regulations.

The legislation used by anti money laundering supervisors revolves around who the supervisor accepts as the 'customer'. This is the actual beneficial owner of the property and therefore cannot be someone who is 'claiming' they will own it after probate is through.

@PissedOffNeighbour22 I think you are misunderstanding that the Executor is an authorised person named in the Will to act in the administration of the Estate of the deceased person. They are not a beneficial owner, nor will they own the property after probate is through. They are merely carrying out the wishes stated in the deceased's Will in the administration of the Estate and distribution to the beneficiaries after probate has been granted.

Not only will the conveyancer do the necessary checks, but the probate office will too. It is perfectly acceptable for the Executor to market the property if it needs to be sold so that the beneficiaries can receive their bequests. The majority of probate properties up for sale are marketed before probate has been granted, but usually marketed after the application to the probate office has been sent.

I am currently the Executor of my mum's estate. Mum died recently and I have just submitted the probate application to the probate office. In the meantime, I have had to obtain three valuations by Estate Agents as the probate office or HMRC may ask for this. The Estate Agents are keen to market the property and would do so as soon as I give them the go ahead.

I got Probate in 9 weeks (applied June approved August), put Mum's house on the market three days before she died as she had moved into a care home. Agent said to leave it on the market and all viewers would be told it as a Probate property.

I think Probate is coming through more quickly than it was last year - I have spoken to people who waited 9 months during covid and the year after.

@Frecklespy I did not submit any valuations from Agents to Probate Office, nor did they ask for any. Probate granted in 9 weeks.

@FiveShelties Thanks, yes I'm hoping the probate office don't ask for it - mum's estate is an Excepted Estate - just that I haven't heard from the probate office yet, so just trying to cover all bases if they're not happy!

Hope it goes through quickly. It is such a lottery and very stressful, especially after a bereavement.

@FiveShelties Crossing my fingers and toes that there are no complications!! Thank you for your kind words.