Residence Nil Rate Band - does my situation apply?

bobster2

Loll10 said:

The residence nil rate band can only be applied to direct descendants inheriting the house or a share of the house. I am a direct descendant, my brother is not but we are equal beneficiaries of the estate. This means that only 50% of the RNRB can be used.

The retirement flat was valued on date of death at £90,000. 50% is £45,000 and 50% of £175,000 RNRB available is £87,500.

If the value of the flat was a lot higher then I could have claimed 50% up to a maximum of £87,500 only.

Was your brother a step child? It can be applied when step children inherit too.

Loll10

@bobster2
No, we’re maternal siblings. Dad didn’t adopt my elder brother or marry our mum.

Their mirror wills stated that the whole estate would go to the other person. When the last one dies, then we are named as joint executors and beneficiaries with an equal share.

If mum had died last then we'd have both been direct descendants.