How to transfer cash value in property

lazealot

Hi

My Father in Law recently passed away without leaving a Will.

We are in the process of applying for Letters of Admiminstration.

Father in Law was divorced, and as part of the divorce settlement he was given a cash value in the family home of around £45k. So if the family home was ever sold he would receive the cash value of £45k.

As the family home had never been sold, he never received his cash value and so we assume this entitlement will now go to his next of kin (2 daughters).

My partners Mom still lives in the house so they aren't looking to sell the house etc, but does anyone know how we get the cash value transferred from Father in Laws name to my partners and her sister?

We are trying to avoid using solicitors if possible.

Thanks

Marcon

lazealot said:

Hi

My Father in Law recently passed away without leaving a Will.

We are in the process of applying for Letters of Admiminstration.

Father in Law was divorced, and as part of the divorce settlement he was given a cash value in the family home of around £45k. So if the family home was ever sold he would receive the cash value of £45k.

As the family home had never been sold, he never received his cash value and so we assume this entitlement will now go to his next of kin (2 daughters).

My partners Mom still lives in the house so they aren't looking to sell the house etc, but does anyone know how we get the cash value transferred from Father in Laws name to my partners and her sister?

We are trying to avoid using solicitors if possible.

Thanks

I can understand your wish to keep down costs, but it isn't safe to 'assume' anything without seeing the paperwork. Does it spell out what happens in this situation, or is it silent on the point?

lazealot

Hi Marcon

We haven't found any paperwork yet, but we have had some free probate advice from a probate specialist. He seemed to think that it would form part of his estate and therefore go to his next of kin.

If we wanted anymore help from the specialist we would have to pay £1800.

poppystar

Are you in contact with partner’s mom? Could you ask her to show you her paperwork from the divorce with respect to this? At least them you’d be aware of whether there was anything specific mentioned regarding what happened if one party predeceases the other. 

Marcon

lazealot said:

Hi Marcon

We haven't found any paperwork yet, but we have had some free probate advice from a probate specialist. He seemed to think that it would form part of his estate and therefore go to his next of kin.

If we wanted anymore help from the specialist we would have to pay £1800.

That's the most likely scenario but without seeing the wording of the financial settlement you can't be certain - and it's the lack of certainty which could create problems at a later date.

I'm afraid it is a case of 'suggest you keep looking' - or do as poppy star suggests and ask if Mom has anything which would help.

Newly_retired

 I have been involved in a slightly similar scenario. On the advice of my solicitor, the beneficiaries and others involved all signed a written agreement, written and agreed by ourselves, at no cost. Subsequently registering the new owners with the Land Registry is needed.

lazealot

Unfortunately partners mom isn't been much help.
Anyone know if it's possible to get copies of the divorce papers/settlement which would give us the info we needed?