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Transfer of house ownership to avoid contesting a will?
Comments
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Ouch. That doesn't sound good.
Is there a time limitation (between transfer of house and death of previous owner?) or any other way this risk could be attenuated?
No, because he has not really given it away. He has given it to her on the condition he can still live there. So really they have conspired for reasons of their own to make it look like he has given her the house, while in reality it is not hers to do what she likes with, so he remains the beneficial owner.
To get round this, he would have to pay her a market rent, have a tenancy agreement, she would have to declare the rent to the revenue, and do everything else a landlord has to do.I'm a retired employment solicitor. Hopefully some of my comments might be useful, but they are only my opinion and not intended as legal advice.0 -
zzzLazyDaisy wrote: »No, because he has not really given it away. He has given it to her on the condition he can still live there. So really they have conspired for reasons of their own to make it look like he has given her the house, while in reality it is not hers to do what she likes with, so he remains the beneficial owner.
To get round this, he would have to pay her a market rent, have a tenancy agreement, she would have to declare the rent to the revenue, and do everything else a landlord has to do.
thanks for the info.
so does the father being the 'beneficial owner' have any consequences upon his death?
ie. does 'A' have any greater claim or likely to have a greater chance of contesting the will because the father retained an interest (as free-tenant/resident) up until his death?0 -
zzzLazyDaisy wrote: »No, because he has not really given it away. He has given it to her on the condition he can still live there. So really they have conspired for reasons of their own to make it look like he has given her the house, while in reality it is not hers to do what she likes with, so he remains the beneficial owner.
To get round this, he would have to pay her a market rent, have a tenancy agreement, she would have to declare the rent to the revenue, and do everything else a landlord has to do.
Won't any benifitial ownership(if it exists) ceases on death and the property reverts to the legal owner.
If all gifts with reservations were realy part of the estate for more than just TAX then many would end up in the residual estate or be distributed as intestate and not belong the the legal owner.
Never heard of this happening.
It would also make a mockery of joint tenants where only one benifits from the property0
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