Transfer of property ownership from joint to sole ownership

rmalvarez

Hello everyone, I would like to seek your help. I used to share mortgage with a friend but unfortunately he passed away last year. He has no Will left, his mother who lives overseas has given me the permission to own the property solely. How can I change the deed solely under my name. I already informed that bank of his death and provided them with death certificate. Do need to undergo probate proceedings? Is there a way I can do all the paperwork without seeing any legal assistance. Thank you.

Caz3121

how was the property owned...tenants in common or joint tenants?
Is there still a joint mortgage?
any mortgage protection insurance?

rmalvarez

tenant in common
I have paid off the remaining mortgage balance

kingstreet

A relative will have to take on role of Administrator of the intestacy.

They will be responsible for gathering estate assets, settling liabilities and legally settling the estate of the deceased according to the intestacy rules.

Once the estate has been settled, the beneficiaries would have to agree to the legal transfer of the share of the property to you.

getmore4less

You could take on the role of administrator this would protect your interest as you are a creditor for 1/2 the mortgage debt.

Could be a lot of work depending how familiar you are with this friends finances and assets.

Easier to get the permisison of those ahead of you in the list or act on their behalf.

Have a read up on Intestate estates.

If no wife and no kids then the parents will be the main benificiaries ifthat is just the mother that could simplify things a bit.

There are potential tax issues for the mother in the country of residence and depending on value/tax position a deed of variation may be worth considering allthough a simple gift of the equity may be OK.

With the grant you will be able to change the land reg to be the sole legal owner, and the gift/DOV will make you the sole benificial owner.