Registering property after death

vfm

Hi
Hope someone can advise who has been through a similar thing.
Relative has died and left an unregistered property. There are 3 Executors of which 2 are beneficiaries. The property is to be sold and we have been informed that it is best to have it registered as it will be quicker/easier to sell, raise mortgage on. We intend to do this however are getting conflicting advice regarding registration. We know we need to complete a FR1 form however rather than Assenting the property the Executors wish to hold the property in a holding capacity until it is sold. Does anyone know what to put into box 9 on the FR1 form to enable this. Some advice states hold it as tenants in common and compete AS1 form, others say hold it in trust and there is no need to complete AS1 form. Has anyone had experience of this?
Thanks

Keep_pedalling

As long as you have probate, selling the house should be straight forward and there should be no need to register the property in the beneficiaries names first.

Savvy_Sue

But the OP says this is an unregistered property in which case it probably would help to have it registered.

However I suspect this is a situation where getting a solicitor to do the work (after getting quotes) would be worthwhile.

Transferring a property, once registered, isn't usually difficult, but the initial registration can be more difficult, I believe.

wwl

Shouldn't need to register prior to sale, especially if it's been in the same ownership for a long time (which it probably is if not registered.
It's possible that some buyers may have doubts but when I raised this with my solicitor he said it really wasn't an issue.
Another factor is that the time it takes to register may delay a sale as you wouldn't be able to exchange until the transfer is done, which can take a while for an unregistered property.

Yorkshireman99

vfm wrote: »

Hi
Hope someone can advise who has been through a similar thing.
Relative has died and left an unregistered property. There are 3 Executors of which 2 are beneficiaries. The property is to be sold and we have been informed that it is best to have it registered as it will be quicker/easier to sell, raise mortgage on. We intend to do this however are getting conflicting advice regarding registration. We know we need to complete a FR1 form however rather than Assenting the property the Executors wish to hold the property in a holding capacity until it is sold. Does anyone know what to put into box 9 on the FR1 form to enable this. Some advice states hold it as tenants in common and compete AS1 form, others say hold it in trust and there is no need to complete AS1 form. Has anyone had experience of this?
Thanks

It is not a job to DIY. You need a solicitor to do it to make sure that there are no delays when you sell.

getmore4less

Just sell it and let the solicitors sort it out.
They can pre register if they think it will help.

vfm

Thanks for your replies.


We have been told that the property will take up to 5 weeks to register and can be done quicker if the house has a buyer who needs to complete. Also that any buyers solicitor/mortgage company (particularly) could delay the sale until the property is registered.


We would rather have it registered now as the house isn't on the market yet, to avoid delayed once an offer is accepted.


We have so far managed without solicitors. I have qualifications in law and normally do things myself e.g. Will, Probate (gained within 6 weeks) and a divorce.


The reason we want it not to be assented is to keep the property outside of the Estates of the beneficiaries.

getmore4less

Are you going to do your own convanacing to sell?

Yorkshireman99

vfm wrote: »

Thanks for your replies.


We have been told that the property will take up to 5 weeks to register and can be done quicker if the house has a buyer who needs to complete. Also that any buyers solicitor/mortgage company (particularly) could delay the sale until the property is registered.


We would rather have it registered now as the house isn't on the market yet, to avoid delayed once an offer is accepted.


We have so far managed without solicitors. I have qualifications in law and normally do things myself e.g. Will, Probate (gained within 6 weeks) and a divorce.


The reason we want it not to be assented is to keep the property outside of the Estates of the beneficiaries.

It is false economy to try and DIYing first registration of a property as there are lots of pitfalls. If you hold it as executor then it is not part of your estate anyway. If you get it wrong it will cost much more to unscramble it/

moneyistooshorttomention

Why don't you transfer this thread to the housing sub-forum?

That is the appropriate one for topics like this and, with any luck, the Land Registry rep. will spot it and come on and give you definitive answers.

Savvy_Sue

vfm wrote: »

We have been told that the property will take up to 5 weeks to register and can be done quicker if the house has a buyer who needs to complete. Also that any buyers solicitor/mortgage company (particularly) could delay the sale until the property is registered.

We would rather have it registered now as the house isn't on the market yet, to avoid delayed once an offer is accepted.

I'd agree with this: when Dad died we didn't get the house transferred to Mum's name. After she died we then had a delay when the buyer's solicitors asked us to get the restriction preventing either of them selling it without the other's permission removed before completion. We thought it would be a completely straightforward thing but it ended up requiring signatures from the five of us inheriting the estate.