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  • FIRST POST
    • jeffrey1111
    • By jeffrey1111 17th May 17, 7:56 PM
    • 3Posts
    • 0Thanks
    jeffrey1111
    Probate and Declaration of Trust
    • #1
    • 17th May 17, 7:56 PM
    Probate and Declaration of Trust 17th May 17 at 7:56 PM
    Hi, I'm looking for some advice following the recent death of my grandfather.
    When my Grandmother passed away 15 years ago he placed his house in trust to myself and my brother.
    Land registry title deeds show all 3 of our names as proprietors (Grandfather, myself and brother).
    Following his passing I understand that we should complete form DJP to remove his name from the title deeds.
    First of all, is this correct? Secondly, does this mean we can sell the house or do we need to take it out of trust? And finally if we're already named on the title deeds do we need to apply for probate?
    Many Thanks Jeff
Page 1
    • getmore4less
    • By getmore4less 17th May 17, 8:23 PM
    • 29,152 Posts
    • 17,434 Thanks
    getmore4less
    • #2
    • 17th May 17, 8:23 PM
    • #2
    • 17th May 17, 8:23 PM
    You won't need probate to deal with the house you may for other reasons.


    You will still have to deal with any HMRC tax requirements.
    • Yorkshireman99
    • By Yorkshireman99 17th May 17, 8:36 PM
    • 2,646 Posts
    • 2,086 Thanks
    Yorkshireman99
    • #3
    • 17th May 17, 8:36 PM
    • #3
    • 17th May 17, 8:36 PM
    Hi, I'm looking for some advice following the recent death of my grandfather.
    When my Grandmother passed away 15 years ago he placed his house in trust to myself and my brother.
    Land registry title deeds show all 3 of our names as proprietors (Grandfather, myself and brother).
    Following his passing I understand that we should complete form DJP to remove his name from the title deeds.
    First of all, is this correct? Secondly, does this mean we can sell the house or do we need to take it out of trust? And finally if we're already named on the title deeds do we need to apply for probate?
    Many Thanks Jeff
    Originally posted by jeffrey1111
    You will need to deal with winding up the trust. This will almost certainly involve paying CGT on the gain in value. Not a job you can sensibly DIY. You need to get professional advice from a solicitor who is a STEP member.
    • getmore4less
    • By getmore4less 17th May 17, 10:41 PM
    • 29,152 Posts
    • 17,434 Thanks
    getmore4less
    • #4
    • 17th May 17, 10:41 PM
    • #4
    • 17th May 17, 10:41 PM
    What type of trust?
    Was it the whole house?

    If a life interest trust there could well be no CGT issues as the value of the house remains part of the Estate and thus could be liable for IHT.
    • jeffrey1111
    • By jeffrey1111 17th May 17, 10:52 PM
    • 3 Posts
    • 0 Thanks
    jeffrey1111
    • #5
    • 17th May 17, 10:52 PM
    • #5
    • 17th May 17, 10:52 PM
    Declaration of trust? Split 50/50 once he died.
    House value approx £100,000.
    Thanks
    • getmore4less
    • By getmore4less 17th May 17, 10:55 PM
    • 29,152 Posts
    • 17,434 Thanks
    getmore4less
    • #6
    • 17th May 17, 10:55 PM
    • #6
    • 17th May 17, 10:55 PM
    Did he retain the right to live in the place?
    • jeffrey1111
    • By jeffrey1111 18th May 17, 5:54 AM
    • 3 Posts
    • 0 Thanks
    jeffrey1111
    • #7
    • 18th May 17, 5:54 AM
    • #7
    • 18th May 17, 5:54 AM
    Yes he retained his right to live there.
  • Land Registry representative
    • #8
    • 18th May 17, 7:31 AM
    • #8
    • 18th May 17, 7:31 AM
    Hi, I'm looking for some advice following the recent death of my grandfather.
    When my Grandmother passed away 15 years ago he placed his house in trust to myself and my brother.
    Land registry title deeds show all 3 of our names as proprietors (Grandfather, myself and brother).
    Following his passing I understand that we should complete form DJP to remove his name from the title deeds.
    First of all, is this correct? Secondly, does this mean we can sell the house or do we need to take it out of trust? And finally if we're already named on the title deeds do we need to apply for probate?
    Many Thanks Jeff
    Originally posted by jeffrey1111
    Form DJP plus an official copy of the death certificate will update the register re the death. If you intend to sell then there is no need to update the register beforehand. Just let the buyer have an official copy of the death certificate.

    If it was in three names then the legal ownership has passed to the surviving two so you can sell and take 'receipt of the capital monies' - I quote those words as I assume there is a form A restriction on the title to protect the trust and which refers and restricts a sole surviving owner for example selling on their own.

    As getmore4less states you don't need probate to deal with the legal ownership of the property but may need it to deal with the his wider estate.
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    • getmore4less
    • By getmore4less 18th May 17, 9:22 AM
    • 29,152 Posts
    • 17,434 Thanks
    getmore4less
    • #9
    • 18th May 17, 9:22 AM
    • #9
    • 18th May 17, 9:22 AM
    Yes he retained his right to live there.
    Originally posted by jeffrey1111

    Read up on life interest/interest in possession trusts.
    The rules for these changed in 2006 so be aware when reading you will se things like immediate post death that referes to the later rules.

    Unless there is something unusual(worth passing by a solicitor if not sure) this could be quite straight forward.
    • securityguy
    • By securityguy 18th May 17, 10:04 AM
    • 2,364 Posts
    • 3,613 Thanks
    securityguy
    Read up on life interest/interest in possession trusts.
    The rules for these changed in 2006 so be aware when reading you will se things like immediate post death that referes to the later rules.

    Unless there is something unusual(worth passing by a solicitor if not sure) this could be quite straight forward.
    Originally posted by getmore4less
    There isn't an IHT issue at £100k, so the question is whether there is a CGT issue, presumably.
    • Yorkshireman99
    • By Yorkshireman99 18th May 17, 1:24 PM
    • 2,646 Posts
    • 2,086 Thanks
    Yorkshireman99
    Read up on life interest/interest in possession trusts.
    The rules for these changed in 2006 so be aware when reading you will se things like immediate post death that referes to the later rules.

    Unless there is something unusual(worth passing by a solicitor if not sure) this could be quite straight forward.
    Originally posted by getmore4less
    Given the OP's lack of knowledge of trusts and taxation he would be mad not to get professional advice before doing anything.
    • getmore4less
    • By getmore4less 18th May 17, 10:23 PM
    • 29,152 Posts
    • 17,434 Thanks
    getmore4less
    There isn't an IHT issue at £100k, so the question is whether there is a CGT issue, presumably.
    Originally posted by securityguy
    For qualifying life interest trust that will be Zero.
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