One vendor passed away of separated coue

xzibit

We are in the process of buying a house which is owned by an older separated couple. He moved out and she is living in the house and buying another.

We are at the point of our solicitor checking the final responses to queries and hoping to exchange in the next couple of weeks.

Yesterday afternoon our solicitor calls to inform us that the husband had passed away. He briefly explained what happens now but as I was driving I said I'd speak to him Tuesday.

Does anyone know what the best case scenario is now? I'm assuming there's a whole load of unknowns coming our way depending on who his share of the house passed to etc.

Anything specific I need to ask our solicitor Tuesday? He did mention there's a way to speed probate up if it comes to that, but again I'll check Tuesday.

Unfortunately we may need to pull out and rent instead as we have been living with family since returning from overseas and have over stayed already.

AdrianC

It entirely depends.

If it was owned as joint tenants, then it automatically became 100% the property of the other joint owner the second he draw his last breath. No probate issues involved.

If it was owned as tenants in common, then his portion is now part of his estate, and whoever's the executor is in charge of it until such time as it's disbursed to any beneficiary. If they've not long separated, then it's entirely possible that's all his widow, too.

mobileron

Happened to me 25 years ago husband died,solicitor told me we would continue with the sale, we did add 2 more weeks to exchange date.

They put the house back on the market and sold in 7 days and £10,000 more.

Tom99

Since there is a surviving owner who is now the sole legal owner they won't need probate to sell the house but if it was held as tenant's in common they might need to involve a 2nd party as seller, possibly whoever inherits the decease's half.

G_M

Tom99 wrote: »

Since there is a surviving owner who[STRIKE] is now[/STRIKE]may be the sole legal owner if they owned as 'Joint Tenants', they won't need probate to sell the house, but if it was held as tenant's in common they [STRIKE]might[/STRIKE]will need to involve a 2nd party (executer of the will, if a will exists) as seller,[STRIKE] possibly whoever inherits the decease's half[/STRIKE].

So in short, either this wll proceed more or less as planned, or there may be a potentially considerable delay pending Probate.

getmore4less

NO need for probate.
Anyone can act as the second party.

There is the potential problem that the will is set up in such a way that the survivor cannot continue any onward purchase due to lack of funds but that can be resolved quickly as long as anyone with a beneficial interest agrees.

Tom99

G_M wrote: »

So in short, either this will proceed more or less as planned, or there may be a potentially considerable delay pending Probate.

As said, no need for probate and the wife is now the sole legal owner whether previously held as joint tenants or tenants in common.

Nebulous2

Its possible the wife was selling up reluctantly to give the husband a share of the equity. If they 'were joint tenants and she now owns it all any need to sell may have gone.

As you can see there are lots of potential scenarios. You need more information and clarity about who owns it now and what their intentions are. Unfortunately they are caught up in a bereavement situation and may not be in the best place to say.

Sea_Shell

As Nebulous said, maybe the need to sell had now gone!!

Once you know the fuller picture, regards ownership etc. come back and the knowledgeable people here will be able to advise you further.

G_M

Tom99 wrote: »

As said, no need for probate and the wife is now the sole legal owner whether previously held as joint tenants or tenants in common.

What am I missing?


If they owned as TIC and the husband's will specified his share was to be inherited by me, I'd be contesting any claim by the wife that she was the sole legal owner........!

ThePants999

G_M, what you're missing (which surprises me!) is the distinction between legal ownership and beneficial ownership. "Tenants in common" is a beneficial ownership thing - even when the beneficial interest is split 50/50, the legal ownership is always joint. Half of the VALUE of the house may now belong to the husband's estate, but the right to decide what to do with the house, including proceeding with the sale, now rests entirely with the wife.