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.
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.
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