Post Probate: What Next? (Land Registry Query Mainly)

DancingBadger

My late sister and BIL owned their house as Tenants in Common.  Her will stipulated her 50 percent of the property should be split 50/50 between her husband's sister and me.    However, my sister's SIL died before her, and the will wasn't updated to take account of that fact.  As it stands, I still hold 50 percent, but the will states the SIL's 50 percent share of the property should be distributed per stirpes between her three children, one of whom has also died and left two children.  The will also states the SIL's children will inherit my share should I die before obtaining a vested interest in the property.

What are my next steps with regard to the property?  Do I need to advise the LR of our interest at this point?  If so, at this stage should I do it on behalf of myself and the SIL's daughter, or do I need include her remaining sibling and the two children of the deceased sibling? 

(My BIL has made a new, and very straightforward will, stating all his assets should be realised, debts (if any), settled and the residue of his estate split 50/50 between his niece and me.)

I'd be very grateful for advice.

getmore4less

Was there a life interest for the BIL to be able to reside in the property?

The will also states the SIL's children will inherit my share should I die before obtaining a vested interest in the property.

Suggests there was.

if that is the case you have not inherited anything her share  went into a trust.

Once that is clarified it will be possible to comment further as the actions are different for a situation where there is a trust.

DancingBadger

getmore4less said:

Was there a life interest for the BIL to be able to reside in the property?

The will also states the SIL's children will inherit my share should I die before obtaining a vested interest in the property.

Suggests there was.

if that is the case you have not inherited anything her share  went into a trust.

Once that is clarified it will be possible to comment further as the actions are different for a situation where there is a trust.

Yes, my BIL has a life interest enabling him to reside or sell the property as he wishes.

p00hsticks

Queries relating to the Land Registry are probably best posted onto the existing long running thread over on the House Buying and Selling board here

https://forums.moneysavingexpert.com/discussion/5685941/land-registry-questions#latest

There's a very helpful LR Rep who monitors that thread and replies to any queries posted on it.

Land_Registry

There’s nothing to notify us of other than the sad death of your sister. 

When a joint owner dies the whole legal ownership passes to the surviving joint owner. 

The beneficial interests you refer to and TIC relate to the beneficial, not legal ownerships. 

In most TIC cases the owners apply for a form A restriction to indicate that such arrangements exist re the beneficial ownership/shares referred to. The form A restriction restricts the sole legal owner when it comes to selling/mortgaging for example. A prompt in many ways to them and others that someone else has a beneficial interest in the property. 

My advice in such cases is always to seek wider legal and financial advice re what options exist. Once you’ve agreed and understood what may happen next and how future events may impact then that may trigger the need to update the register/legal ownership. 

However it may not and the register is updated re the death only leaving the sole legal owner and any form A restriction in place 
https://www.gov.uk/joint-property-ownership

getmore4less

DancingBadger said:

getmore4less said:

Was there a life interest for the BIL to be able to reside in the property?

The will also states the SIL's children will inherit my share should I die before obtaining a vested interest in the property.

Suggests there was.

if that is the case you have not inherited anything her share  went into a trust.

Once that is clarified it will be possible to comment further as the actions are different for a situation where there is a trust.

Yes, my BIL has a life interest enabling him to reside or sell the property as he wishes.

The share is now in a trust.

You will need to check the impact of the two deceased beneficiary on the beneficial ownership going forward.

I think the predeceased is straightforward as there were substitute remaindermen  beneficiary in the will for the share of property going into the trust.

The death of a remainderman needs more research.

DancingBadger

Thank you very much for your replies and advice and apologies for not acknowledging sooner.  I have the Completion of Registration for the property which includes the restriction for TiC purposes, so will get on and notify the LR of my sister's death, as that seems to be all I need to do at this point in time.

The main reason for posting is that I wanted to ensure I have discharged the executorship duties under my sister's will as far as I am able at the moment.  I think it's a case of letting sleeping dogs lie until my BIL (a) wants to sell the property and buy a smaller one, (b) wants to sell the property and move into a care home (which is a possibility as he is 86 and physically frail), or (c) dies.

Remaindermen: I've been disappearing down a lot of rabbit holes researching that one!

getmore4less

I looked at the issue of a remainderman predeceasing a life tenant a while back as I was interested in what happens to residential nil rate band.

I find posts on the
http://trustsdiscussionforum.co.uk

A useful resource for examples to get started, eg.

https://trustsdiscussionforum.co.uk/search?q=Remainderman deceased