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FTB status
bouicca21
Posts: 6,776 Forumite
I may have totally misunderstood a post but I think it said that if an inherited property was held by trustees, then they became property owners.
I made my will some time ago, everything, including my flat, goes equally to my beneficiaries. The solicitor’s legalese refers to my beneficiaries as trustees. They are also executors. One of them does not own a property. Does this reference to trustees mean that she will forfeit FTB status and any other benefits that accrue to FTBs?
In other words, should I get my will re-written just in case I peg out before she can buy somewhere?
I made my will some time ago, everything, including my flat, goes equally to my beneficiaries. The solicitor’s legalese refers to my beneficiaries as trustees. They are also executors. One of them does not own a property. Does this reference to trustees mean that she will forfeit FTB status and any other benefits that accrue to FTBs?
In other words, should I get my will re-written just in case I peg out before she can buy somewhere?
0
Comments
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As long as the flat is sold whilst still owned by your estate and the beneficial ownership not specifically transferred to you then you remain a FTB. There is specific reference to trustee and beneficiaries of the trust not qualifying as FTBs but I do not think that applies to the type of trust under which executors/administrators administer an estate.I may have totally misunderstood a post but I think it said that if an inherited property was held by trustees, then they became property owners.
I made my will some time ago, everything, including my flat, goes equally to my beneficiaries. The solicitor’s legalese refers to my beneficiaries as trustees. They are also executors. One of them does not own a property. Does this reference to trustees mean that she will forfeit FTB status and any other benefits that accrue to FTBs?
In other words, should I get my will re-written just in case I peg out before she can buy somewhere?0
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