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Joint property, one dies, how sell?
timmyt
Posts: 1,628 Forumite
There is a jointly owned property - tenants in common - between h & w. H dies.
How can:
1. it be sold?
2. the tenant in common restrition be removed?
How can:
1. it be sold?
2. the tenant in common restrition be removed?
My posts are just my opinions and are not offered as legal advice - though I consider them darn fine opinions none the less.:cool2:
My bad spelling...well I rush type these opinions on my own time, so sorry, but they are free.:o
My bad spelling...well I rush type these opinions on my own time, so sorry, but they are free.:o
0
Comments
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In England/Wales or Scotland?0
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With the permission of the surviving spouse, and whoever got the deceased's half willed to them.
See a solicitor for the paperwork.Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0 -
e&w
sorry - it is the w who got the property under the willMy posts are just my opinions and are not offered as legal advice - though I consider them darn fine opinions none the less.:cool2:
My bad spelling...well I rush type these opinions on my own time, so sorry, but they are free.:o0 -
Who is dealing with the estate?
If solicitors might be easiest to use them for the sale they can do the probate stuff at the same time.0 -
Then its the wife's...up to her.
Would assume the TiC restriction is removed during the settlement of the estate.
Solicitor will know.Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0 -
Perhaps it would all be better if the post had been written in English.
But one wonders why a husband and wife own a property as tenant in common and then leave each other their share.
However, the transfer will need to go through Probate.
The Executor of the will needs to do this
Once probate has been obtained then the property can be transferred to the wife and then the property can be sold.0 -
But one wonders why a husband and wife own a property as tenant in common and then leave each other their share.
I seem to remember it being something to do with a "loan trust" and making sure the nil-rate band for IHT was utilised.
Don't quote me on that though, it was years ago that I studied it.0
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