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how to deal with house as "tenants in common" when executing a will

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  • how to deal with house as "tenants in common" when executing a will

    My MIL recently passed. My FIL survives her. The house is TIC, specifically arranged many years ago to ensure that at least 50% of the house will pass to the three daughters. There is about 50K in cash, all in normal joint bank accounts. My FIL will retain this, no one is claiming otherwise. There are no disputes within the family, we are just slightly confused as to the next steps:

    I understand that as the house is TIC, then probate is automatically required?

    As a side issue, I understand that even with cash of 50K, no probate would be required (if house was Joint tenancy), as this would automatically pass to the other joint account holder?

    Do we have to physically inform the land registry of the new ownership details, and is there a simple mechanism for this? (Lawyers seem to charge a minimum of 0.75% of the property value for this, which we would rather not ay if it is do-able ourselves).

    Can we do nothing until the passing of my FIL, whereupon his share will pass to his daughters (assuming no care home fees or will changes, - he is aged 88, so the former is possible, the latter unlikely).

    I would appreciate any pointers on this.


    Last edited by Fireman; 1st April 2024, 11:40:AM.
    Tags: None

  • #2
    Probate will be needed to deal with the decead's share in the property.
    Lawyer (solicitor) - retired from practice, now in academia. I do not advise by private message.

    Litigants in Person should download and read this: https://www.judiciary.uk/wp-content/..._in_Person.pdf

    Comment


    • #3
      Yes, I realise that - I was asking about the practicalities of dealing with Land Registry

      tThanks anywsy

      Comment


      • #4
        https://www.gov.uk/update-property-records-someone-dies

        Comment


        • #5
          Probate will be needed so that the executors can "assent" the decead's share to his heirs.
          Lawyer (solicitor) - retired from practice, now in academia. I do not advise by private message.

          Litigants in Person should download and read this: https://www.judiciary.uk/wp-content/..._in_Person.pdf

          Comment


          • #6
            Thanks for that. I had looked on .Gov. but completely missed it.
            I need to get my head around this. They provide examples of various scenarios, but not mine, which I am sure is very common.
            I think I need form AP1, and complete box 3&4 as a "partial transfer"?
            I pay a fee based on the total value of the house, rather than just the half being transferred?

            Thanks, I appreciate the pointer
            ​​​​​​​

            Comment


            • #7
              I don't have any personal experience in completing transfer of property ownership forms. I have read the government guidance notes and I am not sure you are correct. The following is my understanding but I could be wrong:

              The whole ownership of the property is being affected. It is going to have 4 owners (FIL and 3 daughters owning as tenants in common) in unequal shares

              This means that that a X should be put in the first box of Panel 3 on Form AP1 and fees paid on 100% of the value

              Form TR1 should also be completed. Mark X in the 3rd box in Panel 10 of Form TR1 (property held as tenants in common in unequal shares)

              The 3 daughters and the transferor each need to complete Form ID1 which should be verified by a conveyancer or solicitor etc

              Hopefully a forum user experienced in completing these forms will confirm I am right or state the correct process

              All the above assumes that MIL's will states her 50% share of the property is left to her daughters
              Last edited by Pezza54; 3rd April 2024, 10:25:AM.

              Comment


              • #8
                Originally posted by Pezza54 View Post
                I don't have any personal experience in completing transfer of property ownership forms. I have read the government guidance notes and I am not sure you are correct. The following is my understanding but I could be wrong:

                The whole ownership of the property is being affected. It is going to have 4 owners (FIL and 3 daughters owning as tenants in common) in unequal shares

                This means that that a X should be put in the first box of Panel 3 on Form AP1 and fees paid on 100% of the value

                Form TR1 should also be completed. Mark X in the 3rd box in Panel 10 of Form TR1 (property held as tenants in common in unequal shares)

                The 3 daughters and the transferor each need to complete Form ID1 which should be verified by a conveyancer or solicitor etc

                Hopefully a forum user experienced in completing these forms will confirm I am right or state the correct process

                All the above assumes that MIL's will states her 50% share of the property is left to her daughters
                Thanks. I have not looked yet, but that sounds promising. Sorry for delay in acknowledging your help - trying to sort out stuff and continuing to work. I will post an update .

                Comment


                • #9
                  I have just read on a solicitor's website that transferring a share of a property owned as tenants in common is complex and legal advice should be sought. It is important that the right forms are completed correctly to avoid future problems

                  I was wrong in post #7 when I stated form TR1, that form is used when the property is sold.

                  I believe the correct form is AS1 which the executor can complete. and use form JO "Trust Information" (a cross in the 3rd box panel 5) and provide details of the unequal shares
                  Last edited by Pezza54; 5th April 2024, 10:20:AM.

                  Comment

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