Transferring property to a beneficiary (whole title assent)

RnK136

My Mum recently died and years ago she changed the house ownership so that her half could be left in her Will equally to me and my Brother, and not go automatically to my Dad. So they were joint tenants in common.
I have started to look into doing this change but already I am feeling that it's really something I need to appoint a conveyancer to do based on the lengthy forms and information required to complete them.
Does anyone have any experience of this process with the Land Registry please?

Keep_pedalling

Is your father still alive and living in the house? If so did her will also give him a life interest in her share?

RnK136

Keep_pedalling said:

Is your father still alive and living in the house? If so did her will also give him a life interest in her share?

Yes, he is still alive and living in the property. Her Will states that we must let him occupy it for as long as he wishes, so we can't force him to sell etc.

Keep_pedalling

RnK136 said:

Keep_pedalling said:

Is your father still alive and living in the house? If so did her will also give him a life interest in her share?

Yes, he is still alive and living in the property. Her Will states that we must let him occupy it for as long as he wishes, so we can't force him to sell etc.

In which case you don’t actually need to do anything with the LR until he dies or no longer requires the house. You will however have to register the life interest trust with HMRC.

https://www.thackraywilliams.com/insights/advice/does-a-life-interest-will-trust-need-to-be-registered-with-hmrc

RnK136

Keep_pedalling said:

RnK136 said:

Keep_pedalling said:

Is your father still alive and living in the house? If so did her will also give him a life interest in her share?

Yes, he is still alive and living in the property. Her Will states that we must let him occupy it for as long as he wishes, so we can't force him to sell etc.

In which case you don’t actually need to do anything with the LR until he dies or no longer requires the house. You will however have to register the life interest trust with HMRC.

Blimey... I had no idea about having to do anything with HMRC...! 

Keep_pedalling

RnK136 said:

Keep_pedalling said:

RnK136 said:

Keep_pedalling said:

Is your father still alive and living in the house? If so did her will also give him a life interest in her share?

Yes, he is still alive and living in the property. Her Will states that we must let him occupy it for as long as he wishes, so we can't force him to sell etc.

In which case you don’t actually need to do anything with the LR until he dies or no longer requires the house. You will however have to register the life interest trust with HMRC.

Blimey... I had no idea about having to do anything with HMRC...! 

I don’t think many do, 

cherry76

Keep_pedalling said:

RnK136 said:

Keep_pedalling said:

Is your father still alive and living in the house? If so did her will also give him a life interest in her share?

Yes, he is still alive and living in the property. Her Will states that we must let him occupy it for as long as he wishes, so we can't force him to sell etc.

In which case you don’t actually need to do anything with the LR until he dies or no longer requires the house. You will however have to register the life interest trust with HMRC.

Blimey... I had no idea about having to do anything with HMRC...! 

I don’t think many do, 

I was not aware it had to be registered with HMRC. This is new info  for me me I thought immediate post death interest trust is exempt from registration?

RnK136

Keep_pedalling said:

RnK136 said:

Keep_pedalling said:

RnK136 said:

Keep_pedalling said:

Is your father still alive and living in the house? If so did her will also give him a life interest in her share?

Yes, he is still alive and living in the property. Her Will states that we must let him occupy it for as long as he wishes, so we can't force him to sell etc.

In which case you don’t actually need to do anything with the LR until he dies or no longer requires the house. You will however have to register the life interest trust with HMRC.

Blimey... I had no idea about having to do anything with HMRC...! 

I don’t think many do, 

I am now told after a short free chat with a solicitor that the HMRC requirements have changed if the death occured after 1 January 2022 (which in the case of my Mum, it did).

But yes, nothing neccesary with LR until the time comes to sell the property.
  

getmore4less

It can be a good idea to have at least one other person on the register as trustee.
Executor or remaindermen of the trust are the usual choices. 

Who was executor of mums will.


This means when dad passes there will be no need for a grant to deal with the property.

This means should the choice be sell it removes the need for the grant which has for some people been a significant issues or delays   and can put some buyers off.

RnK136

getmore4less said:

It can be a good idea to have at least one other person on the register as trustee.
Executor or remaindermen of the trust are the usual choices. 

Who was executor of mums will.


This means when dad passes there will be no need for a grant to deal with the property.

This means should the choice be sell it removes the need for the grant which has for some people been a significant issues or delays   and can put some buyers off.

There are 3 executors in Mum's Will: my older brother, my Dad and myself.
Dad isn't well enough to deal with anything now, so is happy that my Brother and I sort it all.
Between us we then further agreed to keep it simple and I would handle all the executor stuff/admin.
I need a Grant of Probate now anyway, for something else financial, so it will already be done.