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Beneficiary share by percentage work?

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  • Beneficiary share by percentage work?

    As the Will states each beneficiary has a percentage share making up the full 100% of the deceased estate, how does the sharing out work with:-

    1) A property that has been left but is titled, tenants in common, between the deceased and another (not a beneficiary)?

    Would the Deceased 50% be shared as per the percentages due to each beneficiary?

    E.G.
    Beneficiary a) gets 1.42% of 50%
    Beneficiary b) gets 1.25% of 50%
    Beneficiary c) gets 20% of 50%

    ETC ETC

    I understand it's not the Executor's job to deal with the end title but wonder how it may work if the challenge to the Will proves unsuccessful. There are over two dozen beneficiaries
    Tags: None

  • #2
    Up to 4 people can co-own a property as tenants in common. More than that a trust has to be set up
    By using the court a tenant in common can force the sale of the property when the other tenant(s) do not want to sell
    Hopefully the deceased's will prevents that possibility, allowing the surviving tenant to live there until they pass or wish to sell
    The problem of shared property ownership is eased if the surviving tenant wants to sell the property to move elsewhere
    If not, after obtaining probate, the executor(s) should contact a probate solicitor to write a trust

    Comment


    • #3
      Thank you.

      I will more than note that.
      The only thing the Will says about trustees of the Will is in respect of minor beneficiaries. There are none if those.

      No assets are listed in the Will.

      It's a professional Will and very basic.

      The share property is rented out with several tenants in. No beneficiary is a tenant. No owner lived at the property.

      There are other properties but just the decease as owner. Do all the beneficiaries have to agree to sell?

      Comment


      • #4
        There is an informative article "Can siblings force the sale of an inherited property?" at www.webuyanyhouse.co.uk
        Court action can force a beneficiary who refuses to sell, to sell the property. Compelling reasons why or why not are required

        Comment

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