Re Beneficial interest on my property

gardenerswife

My mum has died recently and I'm now working through paperwork....
I unfortunately went bankrupt 7 years ago - and my mum bought the beneficial interest in my house so has her name registered with Land Registry on my property. Now she has died does this count as part of her estate - will it pass to her beneficiary automatically. Not sure what we need to do or who to contact and would appreciate any advice please

RAS

Who owns the property? Just mum or mum and someone else? If jointly with someone else was it a joint tenancy (both own 100%) or tenants in common?

Did mum have a will?

Keep_pedalling

Yes it will form part of her estate. Did she leave a surviving husband, have you any brothers or sisters?

gardenerswife

Thanks for replies - Mum left a will - brother is sole benefactor as I was written out many years ago - brother aware now that I have told him about the beneficial interest mum has in my house - how do i get these now back into my name?

Mattygroves2

gardenerswife wrote: »

Thanks for replies - Mum left a will - brother is sole benefactor as I was written out many years ago - brother aware now that I have told him about the beneficial interest mum has in my house - how do i get these now back into my name?

You ask your brother to gift it back to you and hope he is feeling generous.

getmore4less

Did you retain a life interest when the beneficial interest was bought.

Was the interest that was bought for 100% of the property or just the equity if you had a mortgage?

Keep_pedalling

If you and you mother own the house as joint tenants then her portion automatically passes to you and only counts as part of her estate for inheritance tax purposes.

If however, it was held as tenants in common or she owned it outright then your brother inherits part ar all of your house.

If the latter and your brother is feeling generous, then the correct thing for him to do would be draw up a deed of variation. This would then pass the portion of your house owned by your mum directly to you, and avoid it ever being owned by him, so can never be included in his estate should he die within 7 years of gifting it to you.

Yorkshireman99

gardenerswife wrote: »

My mum has died recently and I'm now working through paperwork....
I unfortunately went bankrupt 7 years ago - and my mum bought the beneficial interest in my house so has her name registered with Land Registry on my property. Now she has died does this count as part of her estate - will it pass to her beneficiary automatically. Not sure what we need to do or who to contact and would appreciate any advice please

What paperwork exists to support your case? How is the bankruptcy a factor?

gardenerswife

Sorry maybe I need to explain more - I live in a separate property of which my mum bought the beneficial interest on this ( from the Official Receiver when I went bankrupt so that I didnt loose the house). This is still recorded on the Land registry in my mothers name and she has now died and left everything to my brother - so presuming he now owns a slice of my house - can he just gift this back to me as someone has suggested?

Keep pedalling - thanks for that advice
"If the latter and your brother is feeling generous, then the correct thing for him to do would be draw up a deed of variation. This would then pass the portion of your house owned by your mum directly to you, and avoid it ever being owned by him, so can never be included in his estate should he die within 7 years of gifting it to you"
Any ideas how to draw up a deed of variation?

gardenerswife

Get more for less
Did you retain a life interest when the beneficial interest was bought. - I am still paying the mortgage for the property in which my mother bought the beneficial interest - and the aim was that once I was back on my feet then I would buy this back off her - only she died before I was able

Was the interest that was bought for 100% of the property or just the equity if you had a mortgage? - she bought the equity which was just under 5k
"

Yorkshireman99

gardenerswife wrote: »

Get more for less
Did you retain a life interest when the beneficial interest was bought. - I am still paying the mortgage for the property in which my mother bought the beneficial interest - and the aim was that once I was back on my feet then I would buy this back off her - only she died before I was able

Was the interest that was bought for 100% of the property or just the equity if you had a mortgage? - she bought the equity which was just under 5k
"

This is not straightforward and you need to get some paid for professional advice. It should cost far less than you stand to gain.