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Am I already a homeowner?

I'm looking for a bit of advice from the forum, if anyone can help!

My mum died in 1999 and left her half of the family home to me in her will, however my dad has never had any paperwork changed. Even the £1 mortgage outstanding (so the lender will look after the deeds) is still in my mum and dad's joint names.

Now I am looking to purchase my first property with my boyfriend, but am concerned about the change in the Stamp Duty Rules, we can't afford to pay the rate for 2nd homes...

My question is - if I have never been on the deed's am a legally a home owner (and therefore needing to pay the extra SD) or not? Anyone any clues?

Thanks

Comments

  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    You will need to check the will and the small print of the new rules about properties held in trust.

    You will have a beneficial interest in the property.

    Things like was your beneficial interest subject to a survivors life interest may make a difference.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If you've inherited property then you are an owner for the purposes of the SDLT rules (and pretty much every other purpose too) - registering your title doesn't make a difference.
  • And you don't need to keep £1 outstanding on the old mortgage, title deeds are now held electronically, so you could get your dad to tidy that bit up, too.
    Mortgage Free thanks to ill-health retirement
  • checking the will is most important thing here, u need to get consulted with your lawyer here
    .
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