is it regarded as an asset of my late husband?

fatbelly

I have had some experience with P&C and I have to say that when notified that there were no funds for creditors, they gave up pretty quickly.

Executors tend not to be pursued as aggressively as the original debtor would have been.

As for the car, I think good form would be to ask the giver if they want it back. If anyone asked me I would say that as far as I knew, they retained ownership and the deceased was the registered keeper. If they say 'no, do what you want with it' then it's yours

Edit. Just noticed this car hasn't moved for 6 months. I think you need someone who knows what they are doing to check this over as tyres, brakes, battery and fuel will have been affected. 

Marcon

Keep_pedalling said:

mmex said:

Thank you all!

Altogether it seems like I don't have to worry too much about it.
As you imagined, it's a regular old car without much value with scratches but
wasn't doing too bad.

I guess I should let them know that there is no asset?

Marcon said:

How was the property owned? Joint tenants or tenants in common?

From what I understand after reading some articles,
I think it was "joint tenants".

Just write to them, inform them that his estate is insolvent with no assets after funeral costs. Also add that no one is administering the estate.


If it is joint tenants then full ownership passes to you automatically, if tenants in common then his share passes through his will or the laws of intestacy, which will still be you unless his share is worth more than £322k. 

Clearly just a typo - I'm sure you meant to put £325K! - but there's a crucial difference. Debts have to be settled from his share if the house was held as TIC, so the estate isn't insolvent: it's likely the equity in half a house would do a lot more than cover funeral costs. 

Keep_pedalling

Marcon said:

Keep_pedalling said:

mmex said:

Thank you all!

Altogether it seems like I don't have to worry too much about it.
As you imagined, it's a regular old car without much value with scratches but
wasn't doing too bad.

I guess I should let them know that there is no asset?

Marcon said:

How was the property owned? Joint tenants or tenants in common?

From what I understand after reading some articles,
I think it was "joint tenants".

Just write to them, inform them that his estate is insolvent with no assets after funeral costs. Also add that no one is administering the estate.


If it is joint tenants then full ownership passes to you automatically, if tenants in common then his share passes through his will or the laws of intestacy, which will still be you unless his share is worth more than £322k. 

Clearly just a typo - I'm sure you meant to put £325K! - but there's a crucial difference. Debts have to be settled from his share if the house was held as TIC, so the estate isn't insolvent: it's likely the equity in half a house would do a lot more than cover funeral costs. 

Not a typo a spouse gets the first £322k of an intestate estate.

As for the possibility that the home is owned as TiC, no creditor is going to pursue a widow for £700 debt when the only asset is a share in the family home. She has no obligation to pay for it from her own assets so if they want there money they would have to take court action which costs way more than £700. They would also have to pursue the administrator but there isn’t one when there is nothing to administer. 

bobster2

Marcon said:

Keep_pedalling said:

mmex said:

Thank you all!

Altogether it seems like I don't have to worry too much about it.
As you imagined, it's a regular old car without much value with scratches but
wasn't doing too bad.

I guess I should let them know that there is no asset?

Marcon said:

How was the property owned? Joint tenants or tenants in common?

From what I understand after reading some articles,
I think it was "joint tenants".

Just write to them, inform them that his estate is insolvent with no assets after funeral costs. Also add that no one is administering the estate.


If it is joint tenants then full ownership passes to you automatically, if tenants in common then his share passes through his will or the laws of intestacy, which will still be you unless his share is worth more than £322k. 

Clearly just a typo - I'm sure you meant to put £325K! - but there's a crucial difference. Debts have to be settled from his share if the house was held as TIC, so the estate isn't insolvent: it's likely the equity in half a house would do a lot more than cover funeral costs. 

Nope I'm pretty sure @Keep_pedalling meant £322k. This is not the NRB - it's the threshold below which all assets go to a spouse under the rules of intestacy.

https://www.macfarlanes.com/what-we-think/102eli5/intestacy-statutory-legacy-increases-to-322-000-102iloj/

mmex

fatbelly said:

I have had some experience with P&C and I have to say that when notified that there were no funds for creditors, they gave up pretty quickly.

Thank you its good hear from someone who has dealt with them,
I will be in touch with them soon.As for the car, I will ask a friend who would know
about these things...

mmex

Thank you for information on the types of ownership. I will look into it.

Marcon

bobster2 said:

Marcon said:

Keep_pedalling said:

mmex said:

Thank you all!

Altogether it seems like I don't have to worry too much about it.
As you imagined, it's a regular old car without much value with scratches but
wasn't doing too bad.

I guess I should let them know that there is no asset?

Marcon said:

How was the property owned? Joint tenants or tenants in common?

From what I understand after reading some articles,
I think it was "joint tenants".

Just write to them, inform them that his estate is insolvent with no assets after funeral costs. Also add that no one is administering the estate.


If it is joint tenants then full ownership passes to you automatically, if tenants in common then his share passes through his will or the laws of intestacy, which will still be you unless his share is worth more than £322k. 

Clearly just a typo - I'm sure you meant to put £325K! - but there's a crucial difference. Debts have to be settled from his share if the house was held as TIC, so the estate isn't insolvent: it's likely the equity in half a house would do a lot more than cover funeral costs. 

Nope I'm pretty sure @Keep_pedalling meant £322k. This is not the NRB - it's the threshold below which all assets go to a spouse under the rules of intestacy.

https://www.macfarlanes.com/what-we-think/102eli5/intestacy-statutory-legacy-increases-to-322-000-102iloj/

They did and they were right! Apologies. My mind running on the wrong track and with the wrong amount...

Claude_and_Eustace

I would phone Phillips and Cohen if I were you. I’ve been in a similar situation with a possibly insolvent estate and many debts owing, some of which were managed by P&C. I can’t fault them at all, they always dealt with me really sensitively and always reassured me that I wasn’t personally liable. They also disputed, on my behalf, one of the accounts as Eon tried to bill the estate for energy for 2 months after by husband died (he was living elsewhere) and eventually closed the account without pursuing the debt. I can’t speak highly enough of them and have had many helpful conversations with them. I wish all of my dealings had been so positive! 

In the midst of this, my husbands new partner signed his car over to herself having got hold of the log book. There was apparently nothing I could do about this according to the DVLA (there’s no need to prove ownership as long as you have the log book!) and P&C weren’t worried about it as the value was minimal. 

I hope you are reassured 

sheramber

Keep_pedalling said:

Marcon said:

Keep_pedalling said:

mmex said:

Thank you all!

Altogether it seems like I don't have to worry too much about it.
As you imagined, it's a regular old car without much value with scratches but
wasn't doing too bad.

I guess I should let them know that there is no asset?

Marcon said:

How was the property owned? Joint tenants or tenants in common?

From what I understand after reading some articles,
I think it was "joint tenants".

Just write to them, inform them that his estate is insolvent with no assets after funeral costs. Also add that no one is administering the estate.


If it is joint tenants then full ownership passes to you automatically, if tenants in common then his share passes through his will or the laws of intestacy, which will still be you unless his share is worth more than £322k. 

Clearly just a typo - I'm sure you meant to put £325K! - but there's a crucial difference. Debts have to be settled from his share if the house was held as TIC, so the estate isn't insolvent: it's likely the equity in half a house would do a lot more than cover funeral costs. 

Not a typo a spouse gets the first £322k of an intestate estate.

As for the possibility that the home is owned as TiC, no creditor is going to pursue a widow for £700 debt when the only asset is a share in the family home. She has no obligation to pay for it from her own assets so if they want there money they would have to take court action which costs way more than £700. They would also have to pursue the administrator but there isn’t one when there is nothing to administer. 

I think letters of administration are required if the house was owned as tenants in common. 

Keep_pedalling

sheramber said:

Keep_pedalling said:

Marcon said:

Keep_pedalling said:

mmex said:

Thank you all!

Altogether it seems like I don't have to worry too much about it.
As you imagined, it's a regular old car without much value with scratches but
wasn't doing too bad.

I guess I should let them know that there is no asset?

Marcon said:

How was the property owned? Joint tenants or tenants in common?

From what I understand after reading some articles,
I think it was "joint tenants".

Just write to them, inform them that his estate is insolvent with no assets after funeral costs. Also add that no one is administering the estate.


If it is joint tenants then full ownership passes to you automatically, if tenants in common then his share passes through his will or the laws of intestacy, which will still be you unless his share is worth more than £322k. 

Clearly just a typo - I'm sure you meant to put £325K! - but there's a crucial difference. Debts have to be settled from his share if the house was held as TIC, so the estate isn't insolvent: it's likely the equity in half a house would do a lot more than cover funeral costs. 

Not a typo a spouse gets the first £322k of an intestate estate.

As for the possibility that the home is owned as TiC, no creditor is going to pursue a widow for £700 debt when the only asset is a share in the family home. She has no obligation to pay for it from her own assets so if they want there money they would have to take court action which costs way more than £700. They would also have to pursue the administrator but there isn’t one when there is nothing to administer. 

I think letters of administration are required if the house was owned as tenants in common. 

Not where the share of the house passes solely to the surviving co-owner either through the will or intestacy. 

https://finalduties.co.uk/joint-tenancy-vs-tenants-in-common/