Pros and cons of transferring property of my deceased mother into my own name. Need help please.
Hello all. I need advice about pros and cons of transferring property of my deceased mother into my own name. Her mortgage was paid off years ago. I understand that if it is kept in her name, I can get a refund on the council tax for a 6 month period after probate? (I know there is none to pay while probate was ongoing ).
I have just received probate and so am wondering what the pros and cons of the above are.
Am I correct in thinking that if I hold off on transferring the property to my name, I don’t have to pay council tax? I read that on an empty property that is unoccupied and still in the original homeowners name I could qualify for a council tax exemption on this property. But if I transferred to my own name now, I would have to pay council tax.
Is this correct?
I am trying to save some money from my mum’s estate (just a few thousand) My plan is to sell property next year and just before doing so, only then transfer it into my name.
Are there any issues with doing things this way?
I am in England
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