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Transferring property ownership
BlueJuly
Posts: 39 Forumite
Hello everyone,
I'm not sure if this is the right forum for the following question, so apologies in advance if its the wrong place.
What is the process / procedure for transferring ownership of a leasehold flat from a deceased sole owner to his (sibling) beneficiaries ?
Can it be done by an executor, or is a solicitor required ?
At what stage does the freeholder have to be informed ?
Many thanks
I'm not sure if this is the right forum for the following question, so apologies in advance if its the wrong place.
What is the process / procedure for transferring ownership of a leasehold flat from a deceased sole owner to his (sibling) beneficiaries ?
Can it be done by an executor, or is a solicitor required ?
At what stage does the freeholder have to be informed ?
Many thanks
0
Comments
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The exor can arrange for the transfer of a property to the beneficiary.
https://help.landregistry.gov.uk/app/answers/detail/a_id/27/~/transfer-property-to-the-beneficiary-after-the-sole-owner-has-died
As a leasehold is involved, my inclination would be to engage a conveyancing solicitor to deal with the matter.
His fees can come out of the assets of the estate.1 -
What do you plan to do with the property? If you are planning to sell then there is no need to transfer it into the beneficiaries names.
In a previous thread your siblings were going to make you the sole beneficiary of your brother’s estate. If that is still the case and you plan to keep the flat why transfer the property to all of you rather than just you?1 -
Thank you for your advice.
Thankfully my siblings had a rethink and we're all going to be equal beneficiaries. It's in keeping with our late brother's will and I'm genuinely happy for it.
We plan on keeping the property and rent it out.
What should we expect to pay for a conveyancing solicitor and how long does it take?0 -
Do any of you have any experience of being landlords? If not you really should not proceed with that plan without looking in depth at what that involves, especially at how any of you exit the agreement in the future.BlueJuly said:Thank you for your advice.
Thankfully my siblings had a rethink and we're all going to be equal beneficiaries. It's in keeping with our late brother's will and I'm genuinely happy for it.
We plan on keeping the property and rent it out.
What should we expect to pay for a conveyancing solicitor and how long does it take?2 -
BlueJuly said:Thank you for your advice.
Thankfully my siblings had a rethink and we're all going to be equal beneficiaries. It's in keeping with our late brother's will and I'm genuinely happy for it.
We plan on keeping the property and rent it out.
What should we expect to pay for a conveyancing solicitor and how long does it take?
Oh dear. I await your post in a couple of years time complaining about one or other siblings who wishes to sell and is threatening legal action, the costs of management, the bad tenant you cant reach agreement on evicting, the way some can afford to pay for repairs but others can't, blah blah blah
1 -
Whilst I might not have used these exact words, I completely agree with the sentiment. Becoming a landlord is not something to be undertaken lightly, especially as the rules regarding tax, evictions etc are becoming less favourable to the LL. As a minimum, anyone contemplating renting out property should read the first post on this thread, and all the links therein - https://forums.moneysavingexpert.com/discussion/5180214/tenancies-in-eng-wales-guides-for-landlords-and-tenants/p1AnotherJoe said:BlueJuly said:Thank you for your advice.
Thankfully my siblings had a rethink and we're all going to be equal beneficiaries. It's in keeping with our late brother's will and I'm genuinely happy for it.
We plan on keeping the property and rent it out.
What should we expect to pay for a conveyancing solicitor and how long does it take?
Oh dear. I await your post in a couple of years time complaining about one or other siblings who wishes to sell and is threatening legal action, the costs of management, the bad tenant you cant reach agreement on evicting, the way some can afford to pay for repairs but others can't, blah blah blahIt's not difficult!
'Wander' - to walk or move in a leisurely manner.
'Wonder' - to feel curious.0 -
Thankyou guys, I genuinely appreciate your concerns, but we all get on like a house on fire and my siblings have pprevious experiance of being landlords.0
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Then make sure your agreement makes it clear what happens in various circumstances eg one can not afford to pay a repair, you disagree On a repair, one wants their money out, and in general what the mechanism is to come to an agreement.2
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