If mum dies and will outlines two people to inherit house

katy123

Will this be held as joint tenancy or tenants in common. I'm guessing it's the latter.

Yorkshireman99

katy123 wrote: »

Will this be held as joint tenancy or tenants in common. I'm guessing it's the latter.

They can choose. It also depends on the excat wordingof the will.

katy123

Yorkshireman99 wrote: »

They can choose. It also depends on the excat wordingof the will.

At what point do they choose? Would you know which form to use?

Owain_Moneysaver

They would probably choose when the house is registered in their names, which would effect the transfer of ownership from the deceased's estate to the beneficiaries.

Mojisola

katy123 wrote: »

Will this be held as joint tenancy or tenants in common. I'm guessing it's the latter.

Unless there are good reasons to inherit the property itself, it may be better to get the executors to sell it and share the money out.

Keep_pedalling

Or they could instruct the executor to sell and take the cash. Becomes a bit tricky if the two can not agree what to do with the house.

Yorkshireman99

Keep_pedalling wrote: »

Or they could instruct the executor to sell and take the cash. Becomes a bit tricky if the two can not agree what to do with the house.

If they can.t agree then the executor has the opower to sell it anyway.

Keep_pedalling

Yorkshireman99 wrote: »

If they can.t agree then the executor has the opower to sell it anyway.

Which what I would do, to get two difficult beneficiaries off my hands, although the beneficiaries are often also the executors so things can get deadlocked.

Mojisola

Keep_pedalling wrote: »

Or they could instruct the executor to sell and take the cash. Becomes a bit tricky if the two can not agree what to do with the house.

Often the disagreements don't start until the new owners can't agree on what to do with the property after it's been transferred into their names 'because that's what the will said should be done'.

It's worth knowing there is another option.