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  • FIRST POST
    • Oakeshott
    • By Oakeshott 3rd Dec 17, 11:14 AM
    • 2Posts
    • 1Thanks
    Oakeshott
    Eligible for Help to Buy ISA if you've inherited a property?
    • #1
    • 3rd Dec 17, 11:14 AM
    Eligible for Help to Buy ISA if you've inherited a property? 3rd Dec 17 at 11:14 AM
    I'm looking to buy my first home soon and my partner and I are trying to save for a deposit. I would like to set up a Help to Buy ISA for that purpose, but I'm not sure I'm eligible because many years ago when I was a teenager I inherited part of a property from a family member who passed away, which was sold immediately after their death.

    I spoke to my bank on the phone and they didn't seem sure if I was actually eligible or not and said something about 'If you were never on the deeds then you are still eligible...' (I'm fairly certain I was never put on the deeds, but I don't know how to check). Does anyone know the rules on this and whether I would be eligible?
Page 1
    • Thrugelmir
    • By Thrugelmir 3rd Dec 17, 12:30 PM
    • 56,243 Posts
    • 49,614 Thanks
    Thrugelmir
    • #2
    • 3rd Dec 17, 12:30 PM
    • #2
    • 3rd Dec 17, 12:30 PM
    I inherited part of a property from a family member who passed away, which was sold immediately after their death.
    Originally posted by Oakeshott
    Did you actually inherit the property, or simply receive your share of the proceeds when the property was sold and the net estate after costs distributed.
    “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
    ― Warren Buffett
    • Oakeshott
    • By Oakeshott 3rd Dec 17, 1:58 PM
    • 2 Posts
    • 1 Thanks
    Oakeshott
    • #3
    • 3rd Dec 17, 1:58 PM
    • #3
    • 3rd Dec 17, 1:58 PM
    I really can't remember. I was still a teenager and wasn't the one handling everything. I know I was named in the will and that the property was sold off before long, but I recall everything being handled by a solicitor, so I'm wondering if there was some kind of trust set up.
    • Tom99
    • By Tom99 3rd Dec 17, 3:22 PM
    • 682 Posts
    • 407 Thanks
    Tom99
    • #4
    • 3rd Dec 17, 3:22 PM
    • #4
    • 3rd Dec 17, 3:22 PM
    Unless you investigate it further you are never going to know whether you had a beneficial interest in the property.
    From what you say I would be inclined to think the property was sold by the estate and you did not become a beneficial owner so answer the question about past ownership as “no”.
    • Keep pedalling
    • By Keep pedalling 4th Dec 17, 12:16 AM
    • 4,099 Posts
    • 4,460 Thanks
    Keep pedalling
    • #5
    • 4th Dec 17, 12:16 AM
    • #5
    • 4th Dec 17, 12:16 AM
    If you were a minor at the time you certainly would not have appeared on the deeds.
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