FIT payments: Inheritance?

Seanymph

I have just read a thread which said that if the account holder passes (that's me) tht the inheritor of the building needs to them register a new agreement.

Presumably that's at the new low rate?

Is there a way to joint name it does anyone know? Before anything happens obviously - We got in early - at the new reduced rates I don't think we'd even get the installation costs back!

tunnel

Thats a damn good point you raise there, I never bothered to check being in my mid-fourties, guess i'd like to think i'll see my FITs agreement out

I'd image it would be passed over to whoever inherits it rather like if you sold your house and pass on the contract to the new owner, when that happens the contract terms remain the same without the need for a new lower one.

thenudeone

Rest easy.

My PV installation was in June 2011,so I receive the highest rates.

In June 2012, I transferred ownership of the panels to my OH (a non income-tax payer) just in case a future government decided to make the PV income taxable.
My OH registered the change with the FIT provider and received confirmaton of the new agreement from ofgem in April 2012

The payments have continued at the same higher rate and didn't change to the lower rate which would have applied had it been a new installation on that date.

Seanymph

hah - thank you!

there is a thread kicking about by someone whose elderly father was with mmm, can't remember the company but it wasn't eon (mine) - and the company had told them that whoever 'inherited' the panels would then have to apply to them for a new agreement.

I'm pleased to know it can be at the old rate - or was in your case.

I'd still like to see something a bit more reassuring though!

I too am in mid forties, so hadn't thought about it - but you never know, we've just done our wills, so when I read it I thought 'golly'.

Seanymph

http://www.sunraker.co.uk/faq/what-happens-to-my-feed-in-tariffs-if-i-die/

should have googled.