Is my son a FTB

RoseBerni

I’m the executor of my late parents estate 

Everything was left to my son and sister as beneficiaries in both my parents will. 

neither of them are on the deeds of the house  and although I have probate I’ve not changed the deeds to my sister and sons name as we got a sale straight away and it should finalise in a week or so . 
 

I’m on the deeds- title with the land register  as when my mum passed away her half was left to my sister and son and my dad had a lifetime interest possession to stay in the house 
so I was put on the deeds as a trustee to my mums half of the house.  

Everything was done by a solicitor 

I am selling the house as the executor  and the money from the sale will come to me as the executor and I then give it to the beneficiaries 

as the money is coming from a house that was left to them in the will are they still First time buyers 

neither of them have ever owned a house or had a mortgage or on the deeds / land registry as owners 

I keep reading  different stuff on when searching on line as to if they are FTB or not .

Thank you 

user1977

RoseBerni said:

as the money is coming from a house that was left to them in the will are they still First time buyers 
 

Yes.
..............

RoseBerni

user1977 said:

RoseBerni said:

as the money is coming from a house that was left to them in the will are they still First time buyers 
 

Yes.
..............

Thank you 
on line there is so many different answers 

Robin9

I think - No.  The proceeds of the estate was left to them and the house was part of that - it has never been their property

Unless the will specifically said "I leave my property 42 Acacia Avenue to x and y ............... "

RoseBerni

In that will It just says  
I give my residuary estate to  x & x

canaldumidi

They never owned the house so they are still FTB.

What they inherited was the cash!

SDLT_Geek

RoseBerni said:

I’m the executor of my late parents estate 

Everything was left to my son and sister as beneficiaries in both my parents will. 

neither of them are on the deeds of the house  and although I have probate I’ve not changed the deeds to my sister and sons name as we got a sale straight away and it should finalise in a week or so . 
 

I’m on the deeds- title with the land register  as when my mum passed away her half was left to my sister and son and my dad had a lifetime interest possession to stay in the house 
so I was put on the deeds as a trustee to my mums half of the house.  

Everything was done by a solicitor 

I am selling the house as the executor  and the money from the sale will come to me as the executor and I then give it to the beneficiaries 

as the money is coming from a house that was left to them in the will are they still First time buyers 

neither of them have ever owned a house or had a mortgage or on the deeds / land registry as owners 

I keep reading  different stuff on when searching on line as to if they are FTB or not .

Thank you 

I wonder what happened when your mum died, leaving her half to your son and sister?  Perhaps at that stage the solicitor dealing with it assented beneficial shares in the property to them so as to administer the estate, so that you (and your father I expect) held the legal title on trust as to one half to your father (I guess) and the other half on trust for your son and sister, subject to your father's life interest.

If your son acquired a beneficial interest following your mother's death, then my view is that he is not a first time buyer, as he has already "acquired a major interest in a dwelling".

RoseBerni

I’ve just read the solicitors letter 

It says my mum 50 percent Under clause 6 to my father For his lifetime 

Update the LR to state that my father owns his half & the 50 percent owned by my mum is held by the executor for the benefit of my father 

This is completed by submitting as assent to the LR 

Box 10 says that we will own the property under the terms of my late mothers will & declaration of trust 

There is some more stuff written About the executor ( me ) holding my mothers share in accordance to her will

badger09

SDLT_Geek said:

RoseBerni said:

I’m the executor of my late parents estate 

Everything was left to my son and sister as beneficiaries in both my parents will. 

neither of them are on the deeds of the house  and although I have probate I’ve not changed the deeds to my sister and sons name as we got a sale straight away and it should finalise in a week or so . 
 

I’m on the deeds- title with the land register  as when my mum passed away her half was left to my sister and son and my dad had a lifetime interest possession to stay in the house 
so I was put on the deeds as a trustee to my mums half of the house.  

Everything was done by a solicitor 

I am selling the house as the executor  and the money from the sale will come to me as the executor and I then give it to the beneficiaries 

as the money is coming from a house that was left to them in the will are they still First time buyers 

neither of them have ever owned a house or had a mortgage or on the deeds / land registry as owners 

I keep reading  different stuff on when searching on line as to if they are FTB or not .

Thank you 

I wonder what happened when your mum died, leaving her half to your son and sister?  Perhaps at that stage the solicitor dealing with it assented beneficial shares in the property to them so as to administer the estate, so that you (and your father I expect) held the legal title on trust as to one half to your father (I guess) and the other half on trust for your son and sister, subject to your father's life interest.

If your son acquired a beneficial interest following your mother's death, then my view is that he is not a first time buyer, as he has already "acquired a major interest in a dwelling".

Major interest? 25%? Unless I've misunderstood.

JGB1955

SDLT_Geek said:

RoseBerni said:

I’m the executor of my late parents estate 

Everything was left to my son and sister as beneficiaries in both my parents will. 

neither of them are on the deeds of the house  and although I have probate I’ve not changed the deeds to my sister and sons name as we got a sale straight away and it should finalise in a week or so . 
 

I’m on the deeds- title with the land register  as when my mum passed away her half was left to my sister and son and my dad had a lifetime interest possession to stay in the house 
so I was put on the deeds as a trustee to my mums half of the house.  

Everything was done by a solicitor 

I am selling the house as the executor  and the money from the sale will come to me as the executor and I then give it to the beneficiaries 

as the money is coming from a house that was left to them in the will are they still First time buyers 

neither of them have ever owned a house or had a mortgage or on the deeds / land registry as owners 

I keep reading  different stuff on when searching on line as to if they are FTB or not .

Thank you 

I read it as sister and (her) son.

Keep_pedalling

Robin9 said:

I think - No.  The proceeds of the estate was left to them and the house was part of that - it has never been their property

Unless the will specifically said "I leave my property 42 Acacia Avenue to x and y ............... "

Even if the will said that it would not effect the beneficiaries FTB status if the executor sold the house within the estate and distributed the proceeds.