Home / Practice Compliance / Q&As / Q&As

Legal News

Question of the week: Where we act for the seller of a property at auction, are we obliged to carry out AML source of funds checks on the deposit paid by the buyer to the auctioneer before accepting the same from the auctioneer?

Copyright © 2025 LexisNexis
Published on: 06 January 2025
Published by a LexisNexis Practice Compliance expert

Article summary

This Q&A considers client due diligence (CDD) requirements for law firms acting for a seller in a property transaction involving an auction.

Powered by Lexis+®
Jurisdiction(s):
United Kingdom

Related documents:

4 News
View More
8 Q&As
View More
Powered by Lexis+®

Related documents:

4 News
View More
8 Q&As
View More

Popular documents

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Strike out—making an application to strike out a statement of case

Strike out—making an application to strike out a statement of caseA strike out order can be made either following an application by the parties or on the court's own initiative. This Practice Note deals with the scenario of the order being made following a party's application.Making an application

Glossary—Latin legal terms

Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin