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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10181
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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If a property was sold to an equity release firm and I am named

Customer Question

If a property was sold to an equity release firm and I am named as beneficiary and the person has now deceased but left no other monies/estate except debt how do I claim the funds from %property sale?
Submitted: 2 years ago.
Category: Law
Expert:  Aston Lawyer replied 2 years ago.

Hello and thanks for using Just Answer.

My name is ***** ***** am happy to assist you with your enquiry.

You do need to establish from the Equity release Company whether any percentage of the Sale proceeds are due to the deceased's next of kin.

I am guessing that there will be some monies due to the deceased's Estate- this is because, Letters of Administration is only required where a property or other assets were registered in the name of the deceased. Therefore, your relative's name must have still been on the Deeds to the property, and it would be normal for your relative or his/her next of kin to be entitled to some money from any Sale.

Have you beena ble to speak to them about this?

I hope this assists, and I look forward to hearing from you.

Kind Regards

AL

Customer: replied 2 years ago.

Hi My uncles released the house to the equity firm both are now deceased and I am entitled to 10% of sale of property according to the equity firm as I was named as beneficiary. Last remaining uncle died of various cancers and while he was ill someone removed monies from his bank until funds depleted this was found by social worker and police investigated as fraud but because my uncle could have been at the place monies were removed they found it impossible to continue. My mother was next of kin and topped up funeral costs that the insurance policy did not cover. My mother has since died. I have rang the solicitor that the equity firm are using and who contacted me and they advised getting an experts onion as they could not help due to conflict of interest. So I don't know what to do.

regards

Judith

Expert:  Aston Lawyer replied 2 years ago.
Hi Judith,
Thanks for your reply.
I'm not 100% clear what you need assistance with, but as regards ***** ***** of Administration, this is an application made by the next of kin of a person who has died without making a Will. You can either instruct a local Wills and Probate Solicitor to do this for you or you can apply to a local Probate Registry and apply yourself, by completing a form and attending an interview. When applying, you will need to stipulate the value of the Estate. As these monies do not appear to be recoverable, you will have to ignore the value of this money when calculating the value of the Estate.
Not sure if this helps?
Kind Regards
AL
Expert:  Aston Lawyer replied 2 years ago.
Hi Judith,
Can I assist you any further?
Kind Regards
AL
Customer: replied 2 years ago.

Hi Aston,

cheers,thanks. probably have to go to a solicitor as next of kin has since died.

Judith

Expert:  Aston Lawyer replied 2 years ago.
Thanks Judith,
All the best.
If I have assisted, I would be grateful if you could leave positive feedback.
Kind Regards
AL

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