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Keeping first time buyer status?

charley1
Posts: 41 Forumite


Hi, I'm hoping someone can help with a question I have, I'm executor to my mums will which is quite straightforward, one property and some savings, with a set amount left to grandchildren and the rest left in equal shares between 5 adult children, myself being one of them, the other 4 have never owned a property before and were hoping to keep their first time buyer status, as they have all been saving in the relevant isa and help to buy accounts etc. The will doesn't actually mention the house, just states we should each get 20% of the estate after grandchildren are given their set amount.
It doesn't affect me as I own a property but my siblings are younger and haven't yet. Is there a way to protect their first time buyer status? Thank you in advance for any help.
It doesn't affect me as I own a property but my siblings are younger and haven't yet. Is there a way to protect their first time buyer status? Thank you in advance for any help.
0
Comments
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Sell the property as executor so that it never goes into the names of the beneficiaries and give them the money.
https://www.zoopla.co.uk/discover/selling/executor-selling-property/
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