Tenants in Common question

p00hsticks

badger09 said:

p00hsticks said:

Have a look through this thread here which I think covers a similar situation.... 

Missed out the link?

Oops - thanks for that - I've editted my comment to include it now...

SusieT

I had a friend with similar a few years ago, with independant legal advice, the surviving spouse retained the 50% and also the life interest. The solicitor thought along the same lines of people in this thread, that the executors/inheritors were trying to obtain the entire property (also other funds) and remove the life interest in order to sell it ane retain 100% of the funds for themselves. They had a surprise when they got his letter!
I suggest that your mother signs nothing, sees a solicitor that knows about this area of law, and makes sure that they say they are worried that the stepchildren are trying to get her out and take her 50% as well. At the same time, it may be worth her updating her will to make sure that it is watertight.  Good luck

enthusiasticsaver

Thanks for the advice.  I do find it hard to believe that my mums stepdaughters would be trying to get mum out but the deed of retirement  document from their solicitor is so ambiguous and although mum says she has a life interest I have not seen the will but will be visiting her later on this week and will double check the papers.  I have told her to sign nothing until we have seen a property law specialist. I have a copy of the Land Registry title document showing the property registered in hers and my stepdads name but I assume it is a deed of trust I am looking for confirming the life interest or would it be in the will? I will check the link mentioned above and her will out at the same time. It does not help that the solicitor who normally deals with all her legal stuff including transferring the 50% share of the property to my stepdad 15 years ago is now dealing with his estate on behalf of his daughters so cannot act for her due to conflict of interest. We have no dispute with them owning his half as he paid my mum 50% value of the property when he married her and sold his own house. I live more than 200 miles away from her so dealing with this stuff from a distance is tricky. 

Mojisola

enthusiasticsaver said:

We have no dispute with them owning his half as he paid my mum 50% value of the property when he married her and sold his own house.

It sounds as if they have realised that the life interest means that they won't get their inheritance until your mother dies and are trying to push for it sooner.

Of course, the only way to get their hands on the money would be to force a sale of the house so it could leave your mother in a much reduced financial position.

enthusiasticsaver

Mojisola said:

enthusiasticsaver said:

We have no dispute with them owning his half as he paid my mum 50% value of the property when he married her and sold his own house.

It sounds as if they have realised that the life interest means that they won't get their inheritance until your mother dies and are trying to push for it sooner.

Of course, the only way to get their hands on the money would be to force a sale of the house so it could leave your mother in a much reduced financial position.

They have said that they realise she can stay in the flat as long as she likes and they will have the cash/investments from my stepdad presumably once probate received so it is just the property they will need to wait for their share for. I very much hope they are not doing anything underhand, I don't think so from my knowledge of them over the last 15 years but I do think we need a solicitor to double check the will and form that the solicitor dealing with probate for my stepdad wants mum to sign along with the daughters as beneficiaries. My mum won't move and the Land Registry shows her and my stepdad as registered owners so I don't think they can force a sale. They have told her they won't but I would like to see the legal document that stops them doing that. 

Ms_Chocaholic

Who were the named executors in your stepdad's will?

getmore4less

Mum could update the land registry to remove the step dad as legal owner.

enthusiasticsaver

Ms_Chocaholic said:

Who were the named executors in your stepdad's will?

His daughters.

enthusiasticsaver

Thanks all.  My mum has received clarification from the solicitor dealing with my stepdads estate that her 50% of the property is unaffected and the deed to remove her as trustee from the trust protecting my stepdads 50% is purely so his share can be registered in his daughters names as beneficiaries and confirming she has a life interest as protected in my stepdads will.  Nevertheless she will be taking independent legal advice before signing the deed to make sure all is ok and her interests protected.  

getmore4less

If there is a life interest then they don't register as beneficiary they register as trustee.

What trust is mum currently a trustee of?