Advice please

Olawat

My father has recently died and in his will he has left his 50% share of the house to his 3 adult children. My elderly mother still lives in the house but it needs to be sold to enable her to relocate to a rental property nearer to where we live. The house has currently been valued at£125,00. I am am one of the named executors of the will. He has no other assets of any worth. My questions are:-
1- do we need to apply for probate?
2- do we need to apply for name changes to the deeds?
3- do we need to inform Land registry?
4- is there anything else we need to do?

Thank you.

Tom99

Assuming your parents held the property as tenants in common rather than joint tenants:-
1 - I don't think you need probate
2 - Since your mother has now become the sole legal owner I believe that the property could be sold by her plus one other person appointed to act as the 2nd trustee.
Or you can have the legal ownership transferred to all 4 of you, see here:
https://help.landregistry.gov.uk/app/answers/detail/a_id/125
3/4 - Presumably you will be appointing a solicitor to deal with the sale so I would ask them about the most efficient way of going about it.

Savvy_Sue

Olawat wrote: »

My father has recently died and in his will he has left his 50% share of the house to his 3 adult children. My elderly mother still lives in the house but it needs to be sold to enable her to relocate to a rental property nearer to where we live. The house has currently been valued at£125,00. I am am one of the named executors of the will. He has no other assets of any worth. My questions are:-
1- do we need to apply for probate?
2- do we need to apply for name changes to the deeds?
3- do we need to inform Land registry?
4- is there anything else we need to do?

Thank you.

What does the will actually say about the 50% share of the house? Does it give any instructions about what is to happen should your mother wish to sell the house?

Land_Registry

Olawat wrote: »

My father has recently died and in his will he has left his 50% share of the house to his 3 adult children. My elderly mother still lives in the house but it needs to be sold to enable her to relocate to a rental property nearer to where we live. The house has currently been valued at£125,00. I am am one of the named executors of the will. He has no other assets of any worth. My questions are:-
1- do we need to apply for probate?
2- do we need to apply for name changes to the deeds?
3- do we need to inform Land registry?
4- is there anything else we need to do?

Thank you.

1) not as far as the property is concerned as the legal ownership has passed to your Mother
2) you don't need to but updating the register re the death at least is adviseable
3) see 2)
4) for others to post advice on

Please also see your other thread for wider replies

euronorris

Why is the mother selling up and moving to rental accommodation? She will be removing a secure home, and replacing it with an insecure one.


I would be very, very wary of doing that if I were her!

konark

How has the legal ownership passed to the mother? She only owns 50% The 3 adult children own the other half.

Tom99

konark wrote: »

How has the legal ownership passed to the mother? She only owns 50% The 3 adult children own the other half.

When a joint owner dies the legal ownership automatically passes to the surviving owner(s). This is not the same as the beneficial ownership, as in this case.
Whilst, for the moment, the mother is the sole legal owner, she holds it on trust for herself and the 3 children who are the 4 beneficial owners.

Olawat

Savvy_Sue wrote: »

What does the will actually say about the 50% share of the house? Does it give any instructions about what is to happen should your mother wish to sell the house?

No it doesn't actually mention the house or other specific items. Wording is gift or property. Just stipulated his residue to be shared between his 3 offspring.
It doesn't mention about if mother wishes to sell house either.

Olawat

euronorris wrote: »

Why is the mother selling up and moving to rental accommodation? She will be removing a secure home, and replacing it with an insecure one.


I would be very, very wary of doing that if I were her!

Mom currently lives in Wales. We live in the Midlands. House prices vastly different!!
She needs to be nearer to us now she is elderly and now on her own.

euronorris

Olawat wrote: »

Mom currently lives in Wales. We live in the Midlands. House prices vastly different!!
She needs to be nearer to us now she is elderly and now on her own.

She is still putting herself in a financially very vulnerable position. What will happen if/when her capital runs out and she can no longer meet the rental payments? Or if the landlord decides to sell up and she has to move again? And the next one does the same after a year or two? Or they opt to increase the rental amount year on year and it eats her capital at a much faster rate than anticipated?


Being elderly in itself does not necessarily mean that she needs any care/other assistance. So, if she is otherwise in good health and has a support network of friends locally for the social aspect, I'd be reluctant to move her (in these circumstances - if she could afford to buy a property near to you, I'd say go for it). Is there nowhere that is closer to you, but still just far enough away to make buying a property closer to you an option? Like, within an hour's radius (for example).


I'd honestly give some serious consideration to removing the financial security that owning a property offers a person in later life.

4leafclover_2

I have to agree with above, I wouldn't rush into anything and just have a good look around at what is available to buy /downsize to as well as rent. There isn't always much choice when renting, you may end up in draughty houses with steep stairs, no rails in bathroom etc and unsuitable for future, and as mentioned above you may have to move frequently. Your mum may well be more isolated moving round rental accommodation, especially if she has friends and neighbours where she is now?