Transferring property ownership after death

downshifter98

OK, I've now read the will and it states that my brother and I are 'trustees' (as well as executors) and that Mum's half of the house will go to the trustees, to be kept in trust (with no benefits to us in the meantime) until Dad either passes away or goes into care, whereupon the property will be split between us and the Grandkids as described previously. So I assume that, for now, it will just be the trustees names that go onto the deeds.

Must admit that's a relief as I was a bit worried that if we all had 'beneficial' ownership it might cause some future problems (I know how even the most trusted people can get over money..).

Funny, as one of first things Dad said to me today was 'we really must sort out a poa' - great minds, etc.

System

That assumes that Dad's will says something similar, otherwise half the house will be dealt with as per Mum's will and Dad'd could say something totally different for his half.

downshifter98

!!!!!! wrote: »

That assumes that Dad's will says something similar, otherwise half the house will be dealt with as per Mum's will and Dad'd could say something totally different for his half.

Dad's will is written exactly the same afaik.

Could someone just confirm whether we can put my brother and I onto the land registry as trustees?

Land_Registry

Sorry for your loss also

You already have links to the online guidance and if you proceed as outlined your Father and you, as executor could Transfer to the six of you if that is what is decided.

The key points to appreciate, other than which others have already posted, are that
1. essentially Dad can Transfer the property to himself and the other five and as no monies are changing hands and the existing (tenants in common) restriction remains in place;
2. The trust element is an important one and whilst the existing restriction can alert others to the presence of such a trust this should be discussed/considered with a legal adviser to ensure any trust deed (if required) is properly drawn up to protect each interest; and
3. you can have more than four named as Transferees within the legal Transfer itself but only four will be entered on the register. Normally it would be the first four named in the Transfer.

One thing to also stress is that such things can be complicated on a number of levels, and not simply from a registration aspect. I would always recommend that you all obtain legal/financial advice as you will each have a different set of circumstances to consider not only from dad's perspective but presumably also your own as individuals with regards other financial and property interests.

downshifter98

Land_Registry_representative wrote: »

Sorry for your loss also

You already have links to the online guidance and if you proceed as outlined your Father and you, as executor could Transfer to the six of you if that is what is decided.

The key points to appreciate, other than which others have already posted, are that
1. essentially Dad appoints you to act with regards your late Mother's share and together you then Transfer the property; and
2. you can have more than four named as Transferees within the legal Transfer itself but only four will be entered on the register. Normally it would be the first four named in the Transfer.

One thing to also stress is that such things can be complicated on a number of levels, and not simply from a registration aspect. I would always recommend that you all obtain legal/financial advice as you will each have a different set of circumstances to consider not only from dad's perspective but presumably also your own as individuals with regards other financial and property interests.

Hi - thanks for advice - the wording of the will seems to preclude the grandchildren from being involved or named on the title deeds until my Dad passes (or goes into care) - hopefully that simplifies things a little (and protects Dad).

Mojisola

downshifter98 wrote: »

I've now read the will and it states that my brother and I are 'trustees' (as well as executors) and that Mum's half of the house will go to the trustees, to be kept in trust (with no benefits to us in the meantime) until Dad either passes away or goes into care, whereupon the property will be split between us and the Grandkids as described previously.

downshifter98 wrote: »

the wording of the will seems to preclude the grandchildren from being involved or named on the title deeds until my Dad passes (or goes into care) - hopefully that simplifies things a little (and protects Dad).

It's the creation of the trust that protects your Dad - in effect, no-one inherits anything until after he has no need of the property. There are usually clauses that also allow him to move to another property so that he can go to more suitable accommodation if the need arises. Without that protection, the survivor can end up trapped in an unsuitable property.

Land_Registry

downshifter98 wrote: »

Hi - thanks for advice - the wording of the will seems to preclude the grandchildren from being involved or named on the title deeds until my Dad passes (or goes into care) - hopefully that simplifies things a little (and protects Dad).

Note I had to edit my orig post although it does not change the issue you refer to here.

I would still recommend getting that wider legal/financial advice as the wider issues re the grandchildrens' interests in the property and what happens in the future are often best explained and understood by all to reduce the risk of things becoming an issue later on.

It sounds very much like you/Dad and/or your late Mother have already thought this through as there are already caveats in place re the grandchildren getting a share only after certain events have happened. Ensuring such arrangements are properly agreed and understood may be the way forward here as well.

downshifter98

Mojisola wrote: »

It's the creation of the trust that protects your Dad - in effect, no-one inherits anything until after he has no need of the property. There are usually clauses that also allow him to move to another property so that he can go to more suitable accommodation if the need arises. Without that protection, the survivor can end up trapped in an unsuitable property.

Yes, this is how I understood it - there is a clause allowing him to move if necessary. The Grandchildren are all 'mine' and understand that they would only gain anything upon the death of Dad. I'm just not sure how I register this 'trust' in the meantime.

Land_Registry

downshifter98 wrote: »

Yes, this is how I understood it - there is a clause allowing him to move if necessary. The Grandchildren are all 'mine' and understand that they would only gain anything upon the death of Dad. I'm just not sure how I register this 'trust' in the meantime.

I suspect there is nothing to actually register with us as you mention that your parents held the property as tenants in common. The existing restriction implies a trust existed and whilst the terms of the will and the loss of your mother have altered things the focus I suspect should now be on creating a deed of trust which sets out how the beneficial ownership of property is to be handled - this is the trust I believe Mojisola refers to.

downshifter98

Thanks LRr - that makes sense to me as nothing is really changing - I will focus on the deed of trust.