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Tenancy In Common - Probate
Kyrenia13
Posts: 1 Newbie
My wife and I are intending to change our ownership of our property from joint tenants to 50/50 ownership as tenants in common, I am aware of the necessary procedure regarding notices of severence and Land Registry form SEV.
We also intend to renew our wills to include a Protective Property Trust with both of us leaving our share of the property to our surviving children in equal shares or if they predecease us to their children again in equal shares with the usual protection clauses allowing the surviving spouse to continue living in the house etc etc. Our children will also named as executors and trustees in our wills
.
I have two questions that I would like some help with;
1. Is a deed of trust required
2. On both deaths my children / Trustees / Executors will presumably need to alter the title deeds of the property to reflect the names of the new owners - how is this done? is there a form available from Land Registry ? will a grant of representation / Probate be required ?
Any help would be greatly appreciated
We also intend to renew our wills to include a Protective Property Trust with both of us leaving our share of the property to our surviving children in equal shares or if they predecease us to their children again in equal shares with the usual protection clauses allowing the surviving spouse to continue living in the house etc etc. Our children will also named as executors and trustees in our wills
.
I have two questions that I would like some help with;
1. Is a deed of trust required
2. On both deaths my children / Trustees / Executors will presumably need to alter the title deeds of the property to reflect the names of the new owners - how is this done? is there a form available from Land Registry ? will a grant of representation / Probate be required ?
Any help would be greatly appreciated
0
Comments
-
For this sort of thing you really need professional advice.
My parents have just done something similar, I think, and it took a solicitor as well as a trusts expert, and about 3-4 visits to ensure everything was right.0
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