Is my son a FTB

SDLT_Geek

JGB1955 said:

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.

We differ on that then.  I used the title of the post as an aid to interpretation!

SDLT_Geek

badger09 said:

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.

A 25% beneficial share in a property would be a “major interest”, as indeed would be a 1% share.  The statutory expression is about the type of interest rather than the size of the interest.

RoseBerni

JGB1955 said:

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.

It’s my sister 
and my son  😂

RoseBerni

Thought I would update this 

This is the solicitors reply when I asked them if my son would be a first time buyer 

My son inherited 50 percent of the property when my parents passed away  

He was never put on the deeds 

Solicitors reply 

16) YES or NO: (first-time owner) have you ever owned or part owned another residential property, or property that has both residential and non-residential use; this includes freehold property, or leasehold property of at least 21 years; reply yes if you have previously either bought a property, or inherited a property or are or have been a beneficiary of a trust that owns a property?

In answering that last question, note that:

1. Ownership of residential property anywhere in the world is counted when determining whether someone is a first-time owner. 
2. All purchasers in a joint purchase must become on completion first-time residential property owners if any is to be eligible for the relief.

Mojisola

RoseBerni said:

Thought I would update this 

This is the solicitors reply when I asked them if my son would be a first time buyer 

My son inherited 50 percent of the property when my parents passed away  

He was never put on the deeds 

Solicitors reply 

16) YES or NO: (first-time owner) have you ever owned or part owned another residential property, or property that has both residential and non-residential use; this includes freehold property, or leasehold property of at least 21 years; reply yes if you have previously either bought a property, or inherited a property or are or have been a beneficiary of a trust that owns a property?

In answering that last question, note that:

1. Ownership of residential property anywhere in the world is counted when determining whether someone is a first-time owner. 
2. All purchasers in a joint purchase must become on completion first-time residential property owners if any is to be eligible for the relief.

From a previous answer you gave, your son didn't inherit 50% of the property. 
He inherited 50% of the residual estate which included money from a property sold by the executor. 

Olinda99

when a person dies, all assets come under the control of the executor as trustee once they have obtained probate. The executor then distributes the assets according to the will, selling assets as required. At no point does your son own the house and thus is a ftb

RoseBerni

Thank you