Which Takes Presidence?

HappyScotsman

RetSol said:

My understanding is that there is no particular benefit to be gained from registering the property when there is no intention to sell. 

In principle, that is probably correct.

However, you may wish to investigate now the issue of who can sell the property when the time comes.  If the aunt is your grandmother's sole, surviving executor, she probably "owns" the property (solely in her capacity as executor).  Or, at least, this would be the position under English law - I don't know about Scottish law.  

The question however is: as matters stand, what will be the position when she dies regarding selling the property and will that be satisfactory?  What will happen if, before she dies, she loses capacity and the beneficiaries want to sell up?  

Is there a potential for future inconvenience which could be avoided by registering the property in the name of a couple of trustees now?  As has been suggested, you may wish to discuss this with family solicitors. 

Apologies for raising issues which you have not asked about but you seem to have thought about this yourself and, as your aunt ages, these questions may become more important. 

These are all good questions, some of which have crossed my mind albeit briefly. Come my aunt's passing, and on Confirmation via administration, there will be the issue that the house becomes a liability; council tax, insurance and utilities whilst it sits and CGT when it is disposed of. Without a cousins conference, I suspect the future of the building will remain on assumptions until those are consciously tested, which is far from ideal.

RetSol

Without a cousins conference, I suspect the future of the building will remain on assumptions until those are consciously tested, which is far from ideal.

A cousins conference sounds like it would be a good idea, @HappyScotsman, particularly once you have established exactly who now owns a share in the property.  

As you say, there will eventually be liabilities to be met by the cousins as well as proceeds to be distributed.  It would be just as well for all interested parties to know where they stand.

I have a friend who is in a similar situation with a family-owned property occupied by a very long-standing, very elderly tenant (no written tenancy agreement, doh).  The waters have been muddied now by the tenant's middle-aged, ne'er-do-well son moving in!