When a Deputy sells a property belonging to a PWD what happens to the Money.....does it go into a separate Deputy Account or into the PWD account? I read something about a separate deputy account being set up?
Court appointed deputy sells a property?
- Thread starter Rayreadynow
- Start date
A deputy can operate an existing account which is still in the name of the protected person.
If, for any reason, they open a further account to hold the person's funds it is called a deputy account.
Which account any funds go into is a financial decision.
If, for any reason, they open a further account to hold the person's funds it is called a deputy account.
Which account any funds go into is a financial decision.
No. It is part of their deputy duties and is administered like all the other PWD accounts. It will, of course, have to be reported in the annual account.
When I sold mums property I opened a deputy account to put the money into
No, why should they?
They may well have to to be able to deposit house sale proceeds without exceeding the FSCS £85k limit, the exemption is only temporary.
