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Help... Probate gone wrong? I think?!?
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@getmore4less is right. If the house is registered in the names of the two deceased parents and a daughter, then the legal title passes by survivorship to the daughter. Legal titles can only be held as "joint tenants", so it is only necessary to prove the deaths of the parents to show the daughter's title. Death certificates will do, no need for probate. As part of the conveyancing mechanics, the daughter would "appoint a second trustee" so as to "overreach the beneficial interests" and give you good title to the house. It is then up to the daughter and second trustee to work out who gets the money.getmore4less said:
That should potentially be an option as it does not need probate.
Buy the house from the current living legal owner and it is for them to resolve the beneficial interests of the proceeds.
Buy the rest of the garden later.
The garden is different. You might be able to come up with a creative solution there, such a conditional contract or an option. But there would be no guarantees. Would you want to proceed with the house without the garden? It would mean having to agree a price for the house without the garden and sort things out with your lender.
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Yeah, we would consider it. I'm hoping with the lender, as we already have the mortgage offer... We would just renegotiate and update the figure with them... Must happen all the time?SDLT_Geek said:
@getmore4less is right. If the house is registered in the names of the two deceased parents and a daughter, then the legal title passes by survivorship to the daughter. Legal titles can only be held as "joint tenants", so it is only necessary to prove the deaths of the parents to show the daughter's title. Death certificates will do, no need for probate. As part of the conveyancing mechanics, the daughter would "appoint a second trustee" so as to "overreach the beneficial interests" and give you good title to the house. It is then up to the daughter and second trustee to work out who gets the money.getmore4less said:
That should potentially be an option as it does not need probate.
Buy the house from the current living legal owner and it is for them to resolve the beneficial interests of the proceeds.
Buy the rest of the garden later.
The garden is different. You might be able to come up with a creative solution there, such a conditional contract or an option. But there would be no guarantees. Would you want to proceed with the house without the garden? It would mean having to agree a price for the house without the garden and sort things out with your lender.26/05/2018 = I DID IT! I am DEBT FREE!
Debts repaid since 06/02/2015 = £23,079
Mortgage...forever!!!! - But who cares, when all I've ever wanted is my own place!:j0 -
A reduction in price happens often, so lenders are used to re-issuing offer letters for that. But here they would also need to consider the effect on the value of their security of part of the garden not being included.0
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There are some interesting practical issues here. For example, does the 1/3rd of the garden have potential as a building plot? If so, they may never get round to selling it to you. How would you react if they fence off the 1/3rd and sell it to someone else? And, a house being built on it, or even a giant garden shed, might affect your house value.No reliance should be placed on the above! Absolutely none, do you hear?2
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Hopefully the OP or their solicitor might realise that they need to sign a contract to purchase the garden at the same time as they purchase the house.GDB2222 said:There are some interesting practical issues here. For example, does the 1/3rd of the garden have potential as a building plot? If so, they may never get round to selling it to you. How would you react if they fence off the 1/3rd and sell it to someone else? And, a house being built on it, or even a giant garden shed, might affect your house value.
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But that’s a circular argument. Who owns it to sign this contract?brianposter said:
Hopefully the OP or their solicitor might realise that they need to sign a contract to purchase the garden at the same time as they purchase the house.GDB2222 said:There are some interesting practical issues here. For example, does the 1/3rd of the garden have potential as a building plot? If so, they may never get round to selling it to you. How would you react if they fence off the 1/3rd and sell it to someone else? And, a house being built on it, or even a giant garden shed, might affect your house value.No reliance should be placed on the above! Absolutely none, do you hear?0 -
Entirely circular. So we return to "Ask for a copy of both wills".
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