Deed of Variance

Yorkshireman99

antrobus wrote: »

Waste of time and money.

A deed of variation is:

A deed by which one or more beneficiaries of a deceased person’s estate give up their entitlements under the deceased's will or the intestacy rules in favour of other persons.

https://uk.practicallaw.thomsonreuters.com/1-382-5611?transitionType=Default&contextData=(sc.Default)&firstPage=true&comp=pluk&bhcp=1

Spouse in question has no idea about a DoV, Their solicitor will politely explain to them that they are a dipstick, and nothing will happen.:)

You may have missed the point. As is common we my not have all the facts athe parties need to sort it out as quickly and cheaply as they can. Nobody should rely just what they glean from the internet.

getmore4less

mrs-stressed wrote: »

Thank you for replies. The father left his three children some pockets of land 28 Year’s ago..this land has in the most part been left ‘fallow’. The relative that died didn’t mention the land in question in his will. He did leave everything to his spouse. The spouse has now asked solicitor for a deed of variance to include these pockets land in relatives will so will not be left out of any future financial benefits that could be gleaned on sale of this land. I’m sorry if it’s not very clear but I hope you get the gist!

Go back to that death work out what was actually given away and how that land is currently held by the siblings.

It would make sense to get copies of all the relevant documents including the will, land reg entries for all the plots and details of the boundaries, if some are not registered it will complicate as you need to find out who has the deeds.

Then you can work out what the sibling that died actually owned and how(important), subsequently what is now owned by the spouse.

You do not need to name everything they own in the will it drops through to residual beneficiaries.

Not clear what the spouse is up to, get some help to establish the true status of the land and go from there.

Tom99

[FONT=Verdana, sans-serif]A confusing post but assuming the relative who has recently died is the one who owned a 1/3rd share in this land which was not specifically mentioned in their will.[/FONT]
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[/FONT][FONT=Verdana, sans-serif]Who inherits this land will depend whether it was owned by the deceased relative as tenants in common or joint tenants with the other two sibling owners.[/FONT]

[FONT=Verdana, sans-serif]If the land was owned as joint tenants then it will now be owned 50/50 between the two other siblings and not the spouse.[/FONT]

[FONT=Verdana, sans-serif]If it was owned as tenants in common then the surviving spouse will own the inherited 1/3rd.[/FONT]
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[/FONT][FONT=Verdana, sans-serif]The only interest that could be altered by a DOV is the 1/3 interest in the land which has been inherited from the recently deceased relative. So if the spouse inherited the 1/3rd they could give that 1/3rd to the other surviving two owners, or if the surviving two siblings inherited the 1/3rd they could give that to the spouse such that the land was still split 3 ways.[/FONT]
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[/FONT][FONT=Verdana, sans-serif]The OP needs to clarify exactly what the spouse it trying to achieve, its not even clear who's will the spouse is seeking to vary, the relative or the father.[/FONT]
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[/FONT][FONT=Verdana, sans-serif]The OP says the spouse wants to buy out the siblings for pennies. They presumably mean the other 2/3rds owned by the other two siblings for the past 28 years so that would be nothing at all to do with the recently deceases estate and a DOV would not help at all.[/FONT]

mrs-stressed

No one knows what the spouse is up to. When that is revealed then the two siblings will know how to proceed. Can one challenge a DofV against the spouse who originated it in the first place? This is all unchartered territory for the rest of the family...

Tom99

mrs-stressed wrote: »

No one knows what the spouse is up to. When that is revealed then the two siblings will know how to proceed. Can one challenge a DofV against the spouse who originated it in the first place? This is all unchartered territory for the rest of the family...

[FONT=Verdana, sans-serif]The only person who can instigate a DOV is the beneficiary who want to give away some or all or their inheritance.[/FONT]
[FONT=Verdana, sans-serif]So the spouse can give up something the now own using a DOV but they cannot increase their own inheritance at the expense of another beneficiary in any way.[/FONT]
[FONT=Verdana, sans-serif]The only person who might conceivably want to challenge a DOV might be the new beneficiary who, for whatever reason, did not want the inheritance.[/FONT]

Marcon

antrobus wrote: »

Waste of time and money.

A deed of variation is:

A deed by which one or more beneficiaries of a deceased person’s estate give up their entitlements under the deceased's will or the intestacy rules in favour of other persons.

https://uk.practicallaw.thomsonreuters.com/1-382-5611?transitionType=Default&contextData=(sc.Default)&firstPage=true&comp=pluk&bhcp=1

Spouse in question has no idea about a DoV, Their solicitor will politely explain to them that they are a dipstick, and nothing will happen.:)

You're missing the point. OP seems to think they can sort out something they regard as complex by posting a few lines on a public forum populated entirely by people who don't know the facts. Having to shell out for actual advice, rather than vaguely hoping someone might be able to give a definitively correct answer based on next to no knowledge, tends to concentrate the mind!

nom_de_plume

How old is the spouse?


Is it possible the DoV is due to their age and possible future inheritance tax liabilities?