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Will trust
cherry76
Posts: 1,136
Forumite
Dad died six weeks ago, his will created a life interest for mum. Mum, myself and brother are trustees and beneficiaries. Can I just leave the tittle deed as it is until mum dies and the house is sold? My brother is also looking to buy in the near future and does not want to lose his first time buyer status. I do know the trust needs to be registered within 2 yrs. Thanks
0
Comments
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Yes, this is one of the reasons why it is recommended that the "inherited" portion of the house is left in trust. It also prevents you incurring a CGT liability when the property is sold, or limits it if you delay sale after mum leaves the house.If you've have not made a mistake, you've made nothing0
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You don’t need to alter the LR at this state, but if you did it would be to record the trust as joint legal owner not you as individuals so it would not effect your siblings FTB status.0
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