Bank threatening to appoint L.P.A. receivers.

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

Yes you do seem to be under fire for all sorts when I sense you are trying your best to unravel a chain of events which took place during a time when you were grieving for your late wife and attempting to hold things together for the sake of your two sons. You've had a lot to cope with in the last two years.

Furthermore these financial events were being conducted between your late wife's business partner and the bank, and since you were not party to these shenanigans (when maybe you should have been in law) it's perfectly understandable that you do not have all the facts at your fingertips. Why would you when the bank never gave you the necessary information at the time, and appears to have had a selective memory when you asked for them subsequently.

Please don't feel disheartened by some of the negative comments on this thread, because it seems to me that you are only trying to protect the interests of your children and I'm sure your late wife would be proud of you for fighting so hard for them. From what you say your late wife wanted everything she owned to be divided between you and the boys. If the full amount is ultimately lessoned by a tax bill then so be it. You've not got to that stage yet.

I'm not seeing any lies and inconsistencies, I'm seeing someone who has been battling a bank for two years and is feeling exasperated. I would too.

Plan B , before someone comes on and as a rant remember we weren't married we lived in SIN.Not you and me i mean my late partner.

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

Likewise, if the flats were to be sold and there was still a shortfall on the debt, then the bank would have a claim on the estate of the deceased as well as the surviving business partner. So it still seems a nonsense to me that the account was transferred to solely the business partner.

If there was a shortfall they can come after the Family home as I understand it.

[PlanB]

Re: Bank threatening to appoint L.P.A. receivers.

This was the original question.Wish I never asked.

Yes you do seem to be under fire for all sorts when I sense you are trying your best to unravel a chain of events which took place during a time when you were grieving for your late wife and attempting to hold things together for the sake of your two sons. You've had a lot to cope with in the last two years.

Furthermore these financial events were being conducted between your late wife's business partner and the bank, and since you were not party to these shenanigans (when maybe you should have been in law) it's perfectly understandable that you do not have all the facts at your fingertips. Why would you when the bank never gave you the necessary information at the time, and appears to have had a selective memory when you asked for it subsequently.

Please don't feel disheartened by some of the negative comments on this thread, because it seems to me that you are only trying to protect the interests of your children and I'm sure your late wife would be proud of you for fighting so hard for them. From what you say your late wife wanted everything she owned to be divided between you and the boys. If the full amount is ultimately lessoned by a tax bill then so be it. You've not got to that stage yet.

I'm not seeing any lies and inconsistencies, I'm seeing someone who has been battling a bank for two years and is feeling exasperated. I would too.

[Still Waving]

Re: Bank threatening to appoint L.P.A. receivers.

Thing is if you're the appointed beneficiary to any will then you'll have authority to deal for the deceased, in so much as what would/should happen is surely your wife's share upon her death, would need to be discharged (bought by other partner or sold off). It doesn't automatically pass to the sole survivor (you OR the business partner) as you'd have a claim to any profit the sale may generate. Unless you bought out your partners share you'd surely need to sell all assets and divvy the cash between the estate and the business partner.

Likewise the bank cannot say its none of your business if you were the executor of the will/estate.

Likewise, if the flats were to be sold and there was still a shortfall on the debt, then the bank would have a claim on the estate of the deceased as well as the surviving business partner. So it still seems a nonsense to me that the account was transferred to solely the business partner.

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

Thing is if you're the appointed beneficiary to any will then you'll have authority to deal for the deceased, in so much as what would/should happen is surely your wife's share upon her death, would need to be discharged (bought by other partner or sold off). It doesn't automatically pass to the sole survivor (you OR the business partner) as you'd have a claim to any profit the sale may generate. Unless you bought out your partners share you'd surely need to sell all assets and divvy the cash between the estate and the business partner.

Likewise the bank cannot say its none of your business if you were the executor of the will/estate.

Yes I understand that perfectly,I should have said account passes to him,you got in fast I edited the post.

[Never-In-Doubt]

Re: Bank threatening to appoint L.P.A. receivers.

No, Cosigner of agreement still alive debt passes to him ( I was told in another Place ) and the bank told me it was known of my BUSINESS.

Thing is if you're the appointed beneficiary to any will then you'll have authority to deal for the deceased, in so much as what would/should happen is surely your wife's share upon her death, would need to be discharged (bought by other partner or sold off). It doesn't automatically pass to the sole survivor (you OR the business partner) as you'd have a claim to any profit the sale may generate. Unless you bought out your partners share you'd surely need to sell all assets and divvy the cash between the estate and the business partner.

Likewise the bank cannot say its none of your business if you were the executor of the will/estate.

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

In post 31 you stated -

"July 2011 the bank write back telling me that the account had been transferred out of her name and solely into her business partners on the 1st of January 2011."

Assuming that the account was previously in your late other half's name jointly with her business partner, and as Probate had not at the time been granted, it seems to me that the bank should have amended the account to 'Executors of (deceased person) and Business Partner'. Anything else would have been unlawful, and should be challenged.

No, Cosigner of agreement still alive account passes to him ( I was told in another Place ) and the bank told me it was known of my BUSINESS.

But family home still one of the securities for debt.

[Still Waving]

Re: Bank threatening to appoint L.P.A. receivers.

This was the original question.Wish I never asked.

With respect Streetwise, Garlok and PlanB and others have been to great lengths to help, and have given the most sound advice, ie get yourself a solicitor, and there has even been an offer to help you find one. This is what you REALLY need to do. Regards

[Still Waving]

Re: Bank threatening to appoint L.P.A. receivers.

How can the estate be discharged properly if I cant get the bank to play Ball, all that's in the Estate is the Family Home and my late partners share in the flats that may or may not make a profit.

In post 31 you stated -

"July 2011 the bank write back telling me that the account had been transferred out of her name and solely into her business partners on the 1st of January 2011."

Assuming that the account was previously in your late other half's name jointly with her business partner, and as Probate had not at the time been granted, it seems to me that the bank should have amended the account to 'Executors of (deceased person) and Business Partner'. Anything else would have been unlawful, and should be challenged.

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

Hi to all,I am executor of my late partners estate she had two rental properties she rented out with a friend.

For the past two years i have been fighting the bank to stop them selling these properties i have offered to pay them back over a 15 year period but they have refused this offer.

The loan payments are up to date and have never been defaulted on.

They are now going to appoint L.P.A. receivers.

Any ideas on how to stop this.

All help appreciated.

Thanks in advance Streetwise.

This was the original question.Wish I never asked.

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

Yes. Read his latest blog.

http://paulatwatsonssolicitors.wordpress.com/

Thanks,Ive got to tell you plan B this is getting me down, the simplest way to stop this would be to sell the 2 flats and pay the bank of,the flats would probably make a profit now,or they could be sold as a going concern.

But these flats were supposed be for a pension, if the ( BUSINESS PARTNER ) looses them he has nothing and I mean NOTHING.

He is a self employed builder that has just found out he has a bad heart problem.

Thanks again,its very difficult asking for advice on forums especially has it seems i don't put my point over to well.

[PlanB]

Re: Bank threatening to appoint L.P.A. receivers.

does Paul have another practice.

Yes. Read his latest blog.

http://paulatwatsonssolicitors.wordpress.com/

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

So to get this straight - you were not married but your late partner was your also business partner?

Ok - got it. Regards a solicitor - contact Andrew/Paul. You need to!!

NO NO NO ,I had nothing to do with the business my deceased partner ,common law wife had a BUSINESS PARTNER

does Paul have another practice.

[Never-In-Doubt]

Re: Bank threatening to appoint L.P.A. receivers.

What LIES.

Inconsistencies and not answering questions. You're very good at picking up one point and ignoring the rest of people's replies. Why can't you start at the beginning and just write up a story detailing everything?

this is like extracting teeth from a rabid tiger - you need to try and be more open. As I say we can move this if necessary to a more private location.

I'll ask Andrew for his views - see if he can assist being you we're already in contact.

[Never-In-Doubt]

Re: Bank threatening to appoint L.P.A. receivers.

Garlock there at post 17 at the top I say I am now going to refer to my late Partner as (WIFE ) as I thought everybody was getting mixed up between me using the terminology ( LATE PARTNER ) and ( BUSINESS PARTNER ).

So to get this straight - you were not married but your late partner was your also business partner?

Ok - got it. Regards a solicitor - contact Andrew/Paul. You need to!!