Tenants in Common

getmore4less

Sea_Shell said:

Do you mean "Joint Tenants" or "Tenants in common".   They are two separate things.

Makes no difference if the legal owners were not updated on first death.

getmore4less

The current legal owners or exec of last survivor are responsible for securing the assets and distribution of beneficial interests.

Sea_Shell

getmore4less said:

Sea_Shell said:

Do you mean "Joint Tenants" or "Tenants in common".   They are two separate things.

Makes no difference if the legal owners were not updated on first death.

How so?

What if on first death of A, their share of the property was willed to person B.

Person B may not necessarily the original co-owner, that might be C.

So on the death of C, surely C's executors can't process everything as a done deal, as probate would have been needed for the original share that passed from A to B, dealt with by As executors.


In general, We don't yet know exactly OPs position regards a possible A, B or C, 

JBeaC

getmore4less said:

The current legal owners or exec of last survivor are responsible for securing the assets and distribution of beneficial interests.

Thanks a simple answer! 

getmore4less

Sea_Shell said:

getmore4less said:

Sea_Shell said:

Do you mean "Joint Tenants" or "Tenants in common".   They are two separate things.

Makes no difference if the legal owners were not updated on first death.

How so?

What if on first death of A, their share of the property was willed to person B.

Person B may not necessarily the original co-owner, that might be C.

So on the death of C, surely C's executors can't process everything as a done deal, as probate would have been needed for the original share that passed from A to B, dealt with by As executors.


In general, We don't yet know exactly OPs position regards a possible A, B or C, 

If A and C own a property.
A dies probate is not needed for A.
(Does not matter if joint or TIC)

B does not get added as a legal owner

C or their executors have total control what happens to the property.
(They just have to give B their share if sold)

JBeaC

getmore4less said:

Sea_Shell said:

getmore4less said:

Sea_Shell said:

Do you mean "Joint Tenants" or "Tenants in common".   They are two separate things.

Makes no difference if the legal owners were not updated on first death.

How so?

What if on first death of A, their share of the property was willed to person B.

Person B may not necessarily the original co-owner, that might be C.

So on the death of C, surely C's executors can't process everything as a done deal, as probate would have been needed for the original share that passed from A to B, dealt with by As executors.


In general, We don't yet know exactly OPs position regards a possible A, B or C, 

If A and C own a property.
A dies probate is not needed for A.
(Does not matter if joint or TIC)

B does not get added as a legal owner

C or their executors have total control what happens to the property.
(They just have to give B their share if sold)

That’s as we understand it. Thanks! We are C. 

JBeaC

The executors of C 

RAS

Sorry, are you C, or are you the executors of C? And if the latter, who are the beneficiaries after C's death?

xylophone

 What was the relationship of the first to die to the survivor?

Did the will of the first to die leave an interest in possession to the survivor (with another party named as remainderman)?

Or did the will of the first to die simply leave the share in the property to a named individual?

JBeaC

RAS said:

Sorry, are you C, or are you the executors of C? And if the latter, who are the beneficiaries after C's death?

I am the executor of C and the beneficiary.