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remainderman predeceased a life tenant
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JPR66 said:Yes on reflection it does make both answers sound like a yes, until, as was quoted "it's not part of his estate". Hence my confusion!It sounds more and more like walking away and telling the creditors that nobody is administering the estate is the best option.To be honest no one is likely to get any money from it in the next 10+ yrs
If the life tenant dies and the property passes to your father's estate in 10 years time, then it seems to me that the debt would be statute barred at that point.
I would definitely be taking legal advice if I was the trustees once the life tenant dies, to get clarity on who the property (or its sale proceeds) should be transferred to.
Did your father leave a Will? Who would his beneficiaries be if his estate wasn't insolvent?1 -
My father left no will sadly. I'm making progress slowly and focusing on asking creditors if they will write the debts off. I expect HMRC to be the one that is least likely but whatever happens there will be a long wait for repayment of any kind.It's just me, his brother as remaining beneficiaries0
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