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Tenants in common

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Hi, I was hoping to get some clarity on a query about my parents property (that they live in) which is owned outright as tenants in common.  My parents both have Wills in place that state that in the event of their death, all assets will pass to the surviving spouse.

My question is, will a grant of probate be required for this property on the first death?

Hoping somebody can help!

Comments

  • Mojisola
    Mojisola Posts: 35,571 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If they are leaving their share to each other, why not change the ownership to 'joint tenants'. 
    People usually own as tenants in common if they want to leave their share to someone other than their spouse. 
  • Nikkimikki
    Nikkimikki Posts: 33 Forumite
    Third Anniversary 10 Posts
    It would be a cost for them to do that just now and we just wanted to be aware of the implications of not changing it ie will probate be required on this asset.
  • Nearlyold
    Nearlyold Posts: 2,379 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    What cost are you referring to?
  • Nikkimikki
    Nikkimikki Posts: 33 Forumite
    Third Anniversary 10 Posts
    The solicitors fees and any associated land registry fees.
  • Nearlyold
    Nearlyold Posts: 2,379 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    There are no land registry fees to pay & you can get a Trust Deed Template on line for £15 from places like The Legal Stop
  • xylophone
    xylophone Posts: 45,609 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    It would be a cost for them to do that just now and we just wanted to be aware of the implications of not changing it ie will probate be required on this asset.

    See your other thread.

  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Hi, I was hoping to get some clarity on a query about my parents property (that they live in) which is owned outright as tenants in common.  My parents both have Wills in place that state that in the event of their death, all assets will pass to the surviving spouse.

    My question is, will a grant of probate be required for this property on the first death?

    Hoping somebody can help!

    NO, 

     it does not matter if they are joint or TIC probate is not needed to deal with the property.
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