Hi,
Im a conveyancer acting for a client who has purchased a deceased estate in Victoria.The title is currently in the name of the deceased, and the son is the Vendor as legal personal representative of the deceased.
There is a ceritified copy of Grant of Probate and an APR that will be provided at settlement by the Vendors solicitor. My clients (purchaser) bank will not accept this, and want the title to be registered prior to settlement into the name of the son.
Three questions:
1. Can I force the Vendors rep into doing it this way, or are they within their rights to stick to saying that the documents will be provided at settlement, and will not accomodate anything else?
2. If they do accomodate us, and lodge the APR prior to settlement and register the title into the sons name, who is liable for the additional costs incurred? For example, as there is a mortgage on title, the discharging bank will need to consent to making title available at the titles office which will incur a cost, as well as the additional legal fees involved for their solicitor arranging everything.
3. Is this a new requirement that banks are starting to introduce? In all previous deceased estate dealings I have been involved in, this is the first instance I have encountered where the bank is asking for this requirement.
My thoughts would be that since it is the purchasers bank that are requesting this, that the Vendors would want to pass on the costs to my client, because if the purchasers bank accepted the documents at settlement, the costs would not be incurred.
Any responses to this would be greatly appreciated.
Thanks.
Im a conveyancer acting for a client who has purchased a deceased estate in Victoria.The title is currently in the name of the deceased, and the son is the Vendor as legal personal representative of the deceased.
There is a ceritified copy of Grant of Probate and an APR that will be provided at settlement by the Vendors solicitor. My clients (purchaser) bank will not accept this, and want the title to be registered prior to settlement into the name of the son.
Three questions:
1. Can I force the Vendors rep into doing it this way, or are they within their rights to stick to saying that the documents will be provided at settlement, and will not accomodate anything else?
2. If they do accomodate us, and lodge the APR prior to settlement and register the title into the sons name, who is liable for the additional costs incurred? For example, as there is a mortgage on title, the discharging bank will need to consent to making title available at the titles office which will incur a cost, as well as the additional legal fees involved for their solicitor arranging everything.
3. Is this a new requirement that banks are starting to introduce? In all previous deceased estate dealings I have been involved in, this is the first instance I have encountered where the bank is asking for this requirement.
My thoughts would be that since it is the purchasers bank that are requesting this, that the Vendors would want to pass on the costs to my client, because if the purchasers bank accepted the documents at settlement, the costs would not be incurred.
Any responses to this would be greatly appreciated.
Thanks.
