Tenants in common and executing the will

[Jopo1]

Hi, looking for advice on executing a will.

Sadly my dad died a couple of weeks ago, and we're looking into probate and executing the will etc.

The house was owned by him and my mum as tenants in common. His half of the house is left to me and my 2 brothers (mum lives rent free).

My question is, how do we action this once we are able to execute the will? Do we need a conveyancer and/or solicitor? Or just inform the land registry?

Mum doesn't have much income now that dad's gone, so if we can avoid expensive legal fees we will.

By the way, my dad is NilDesper here - I don't think he posted much in the last few years but some old-timers might remember him.

Thanks

Jopo1

[richardsun]

Hi Jopo1

Condolences to you, I have been in exactly the same situation recently.

Having researched it a little, I came to the conclusion that I didn't actually have to do anything.

If the 'tenants in common' was set up correctly, the property deeds should contain a statement with the wording "RESTRICTION: No disposition by a sole proprietor of the registered estate (except a trust
corporation) under which capital money arises is to be registered unless authorised by an order of the court."

As I understand it, this acts as an 'alert' to any solicitor or conveyancer that other parties have an interest in the property, so before any sale of the property happens, they would need to find out who these parties are, and gain their agreement. In my case, and yours, your Dad's will would be the document which confirms who has interests in the property.

I found some useful info regarding all this in the Help forum of the land registry website, e.g. https://customerhelp.landregistry.gov.uk/forums/general-info-and-guidance/52f7c1b4-bb2e-ed11-a81b-002248018381

It seems that changing the Land Registry title can be done, but I though it sounded more trouble than it was worth, especially where joint ownership is involved. I got the impression it can be done without a solicitor, but only if you have the time and inclination to wade through the admin.

All the best

Richard

[monabri]

My thoughts were aligned with those of Richardsun. I don't think there is any urgency nor requirement to have the ownership put in your names.

Some comments

I would put a marker on the property via land registry. https://www.gov.uk/guidance/property-alert

When you have probate, you will have a stake in the ground as to the value of the property. This is the baseline value for you and your brothers for your X% of the property. I'm thinking more of any future possible capital gains issues if the property were to significantly increase in value.

You can check availability and download the land registry information for wording for the sum of £3. Make sure you use the official genuine Land Registry site...if the charge is more than £3 then you might be on one of the rogue sites!
https://www.gov.uk/search-property-info ... d-registry

At some future point in time, I guess you and your siblings will be 100% owners. At that point you might decide to sell. A solicitor would then sort it out transferring the property to any new owner.

[gryffron]

Firstly, sorry to hear about your dad. I have recently dealt with my dad’s estate which was similar.

The house was owned by him and my mum as tenants in common. His half of the house is left to me and my 2 brothers (mum lives rent free).
My question is, how do we action this once we are able to execute the will? Do we need a conveyancer and/or solicitor? Or just inform the land registry?

It’s an old will then? This was the recommended method of transferring property before RNRB was introduced in 2017. The modern method of transferable RNRB makes it all much simpler

Mums right to live there creates a “will trust”. And means she is the “beneficial owner” for tax purposes. I.e. she, not you, would be liable for CGT on 100% of the property value while she lives there. Which is actually good, since it is her first home and thus exempt.

But mum doesn’t own the title the property. Only a share in it. A house with 4 unequal owners and a rightful occupant is a complicated situation. If it were me (and I have been in a similar situation) I would not hesitate to get a solicitor to sort this out. Siblings can, and do, fall out over property shares. It could get very awkward if not done right. Can you do it yourself, yes. Should you, no! £500 spent now could save a lot of money and grief later. And BTW, it is the beneficiaries (siblings) who should pay this, not mum.

Do make sure you get a proper valuation of the property. From an estate agent will do. It is required for tax calculations now and in future. Do it soon. It is the value at death, not the value at probate that matters.

Gryff

[Jopo1]

It’s an old will then? This was the recommended method of transferring property before RNRB was introduced in 2017. The modern method of transferable RNRB makes it all much simpler

No, December 2022. It wasn't done to avoid IHT, but to protect the value of the house should one parent end up having to pay for care.

I will certainly look into what the deed says about the house, and take it from there

Thanks everyone.
Jopo1

[Jopo1]

"RESTRICTION: No disposition by a sole proprietor of the registered estate (except a trust
corporation) under which capital money arises is to be registered unless authorised by an order of the court."

I've had a quick look at the land registry site, and without paying, it states there are no restrictive covenants, but there is an Easement.

Would the restrictions come under easement or restrictive covenant do you think?

I know the property was built on the land of the neighbouring property in the 80's, so I can imagine the 2 properties will share some rights of access to water, drainage etc, which would be an easement.

Jopo1

[Jopo1]

I paid my £3 and there are no restrictive covenants on the house, and no notice that we beneficiaries have a claim on the house.
They did have their wills drawn up by a solicitor.

I'll call the Land Registry this week to find out what they need from us to move forward.

Thanks again

Jopo1