We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Conveyancing on inherited property
shiraz99
Posts: 1,997 Forumite
I've put my house on the market with the intention of taking over my late Father's property which I inherited along with my two siblings that I'll be buying out. Do I need to go through a full conveyancing process including all the searches etc as if I was buying the property or is there a simpler process involved to register and transfer the title over.
I'm trying to gauge the timescales involved and try and speed up processes where I can.
I'm trying to gauge the timescales involved and try and speed up processes where I can.
0
Comments
-
You already own the inherited property so the only reason you would need searches might be if any mortgage company require it - you don't say whether you will be borrowing to raise the capital for buying out your siblings or whether the value of your property you are selling will cover the amount?🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her1 -
There's no mortgage or finance involved, it will be a simple cash buy out. Also, to clarify I'm also the executor and the estate has been granted probate. So I assume it's just a simple case of getting the property transferred and the necessary legals requires for the buying out?EssexHebridean said:You already own the inherited property so the only reason you would need searches might be if any mortgage company require it - you don't say whether you will be borrowing to raise the capital for buying out your siblings or whether the value of your property you are selling will cover the amount?0 -
Searches are to tell you stuff about a property which you don't already know - but I assume nothing here would be a surprise to you, so there's really no need.0
-
As Executor you can simply transfer the property from your father's name to yours.
Then give your siblings the agreed amount.
Whether you want to undertake searches etc is up to you. Presumably you are familiar with the property and know most of what they might reveal.....?
https://www.gov.uk/update-property-records-someone-dies
0 -
Simple form to the land registry along with Probate copy. Transfer of whole to your name.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards