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.

Are you a first time buyer

Options
Jokerman62
Jokerman62 Posts: 1 Newbie
in House buying, renting & selling
A relative of mine is saving into a help to buy ISA for first time buyers. However the has learnt that his wife is going to inherit a property (not in an area they like). Would he still be a first time buyer if his wife inherits the property?

Comments

  • thegreenone
    thegreenone Posts: 1,016 Forumite
    First Post First Anniversary Name Dropper Combo Breaker
    Options
    Is it written in a Will that the house, in it's entirety, is bequeathed to Wife?  Or is she receiving a share of the estate?

    If it's the former, then I believe relative will lose his FTB status.  If the latter, Wife can ask the Executor to sell the house and she receives the proceeds and they remain first time buyers.

    Willing to be corrected.
  • hazyjo
    hazyjo Posts: 15,470 Forumite
    First Anniversary Name Dropper First Post Photogenic
    Options
    Is she planning on keeping it? As far as I know, she can just sell without registering it.
    2023 wins: *must start comping again!*
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.3K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.8K Spending & Discounts
  • 235.4K Work, Benefits & Business
  • 608.3K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 248K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards