Help to buy - previously inherited or not?

later

Hello

My mum died in 2010, intestate. Before the estate was shared out, I signed something at the solicitors saying that my brother could have the house. There were four of us, and it went to my brother. The estate was shared out and I received a cash sum which was the share of her pension, not from the house.

I didn't keep any paperwork because I was young, grieving and didn't realise the significance. The solicitor has no record of anything - they're asking for a reference number that I don't have.

The question is, because I didn't actually have any deeds, and I signed everything over to my brother, can I qualify for a Help to Buy ISA? Or is there a record anywhere that says if I ever owned that house?

Tom99

Unless the beneficial interest in your mother's property was transferred to you, which from what you say it was not, then you remain a first time buyer,

amnblog

It does not matter if you owned the house or not.

It does not stop you using the H2B scheme.

It is only a problem if you own part of the property now as you would need to relinquish your ownership before you buy,

later

From what I understand, it's if you've EVER owned?

getmore4less

How young?

amnblog

later wrote: »

From what I understand, it's if you've EVER owned?

No, you can own another property anywhere the world AT THE SAME TIME as taking advantage of the Help to Buy scheme.

Tom99

amnblog wrote: »

No, you can own another property anywhere the world AT THE SAME TIME as taking advantage of the Help to Buy scheme.

Where did you read that? This is the official view:


To qualify for a Help to Buy: ISA you must:

• be 16 or over
• have a valid National Insurance number
• be a UK resident
• be a first time buyer, and not own a property anywhere in the world
• not have another active cash ISA in the same tax year: If you have opened a cash ISA this tax year, you can open a Help to Buy: ISA but will have to take additional steps. See the FAQ for more detail.

A first time buyer is someone who has never owned a dwelling anywhere in the world.

later

getmore4less wrote: »

How young?

Not too young, 23. But young enough to be lax with keeping paperwork.

later

Tom99 wrote: »

Where did you read that? This is the official view:


To qualify for a Help to Buy: ISA you must:

• be 16 or over
• have a valid National Insurance number
• be a UK resident
• be a first time buyer, and not own a property anywhere in the world
• not have another active cash ISA in the same tax year: If you have opened a cash ISA this tax year, you can open a Help to Buy: ISA but will have to take additional steps. See the FAQ for more detail.

A first time buyer is someone who has never owned a dwelling anywhere in the world.

This is what I understood, thanks.

I'm just struggling with whether I technically owned it due to the intestate and signing something. I don't even know what I signed - we all knew my mother wanted my brother to have the house, she just hadn't got round to writing the will, so we signed it over immediately!

amnblog

Apologies

I missed a word, I though we were talking about the Help to Buy Scheme.

Not the ISA savings Scheme.

Tom99

later wrote: »

This is what I understood, thanks.

I'm just struggling with whether I technically owned it due to the intestate and signing something. I don't even know what I signed - we all knew my mother wanted my brother to have the house, she just hadn't got round to writing the will, so we signed it over immediately!

It would have been completely illogical to transfer the property to you then onwards to your brother. During the estates administration period the estate will have owned the property, not you nor your brother. The property was then transferred from the estate direct to your brother. There is no reason from what you say to suspect you became an owner of the property at any time.
Just tell your solicitor he will have to take your word for it.