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Have I inherited part of property with surviving parent?
Comments
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The proper Land Registry costs £7, avoid those who charge you another fee to do the search. You should see both parents' names and a restriction preventing sale by one.If you've have not made a mistake, you've made nothing0
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If probate was applied for (and I believe it should have been in order to transfer ownership of the property) then you can obtain a copy of the will and grant of probate here. If you were named as executor on the will then unless your surviving parent was also a co-executor and got your to renounce then you should have been involved in this process.
Search probate records for documents and wills (England and Wales) - GOV.UK2 -
There are a few things to cover here and to explain as it’s an area that can be easily misunderstood where a property is involved. Inheritance is one thing and linked to wills/trusts whilst actual legal ownership is another and requires a legal deed to change that.It’s important to understand and appreciate the difference between the former (beneficial) and the latter (legal) ownerships.
Absolutely check the land register to confirm what it says re the legal ownership (names in B Register) and whether there’s a (form A) restriction protecting the beneficial interests/trust/shares you refer to
If it’s in their joint names the legal ownership passes to the surviving owner to deal with as appropriate - that’s the same whether there’s a form A restriction or not and whether they are joint tenants or tenants in common. Many misunderstand this point.Probate is not needed for the property as the legal ownership does not form part of the deceased’s estate. That passed to the survivor.The surviving owner can transfer the legal ownership to themselves plus you; they could do nothing and pay you a figure to cover your beneficial share; they could wait and leave their share to you on their death instead as stated. But what they do and how you realise your beneficial share or ensure it’s protected is for them and you to discuss and get legal advice/certainty on.Such decisions may mean zero changes to the registered information and they are very much discussions/options that should be clarified and formalised between you as appropriate. Everyone with an interest needs to be on the same page re their understanding as anything might happen next and not simply the surviving owner dying next of course.I suspect from what you have posted that the legal ownership is registered in their joint names. A form A restriction has been registered to protect the split of the beneficial ownership and the wills created. If so that’s fine.
the form A restriction doesn’t prevent a sale. It does prevent the surviving owner from completing a sale on their own but they can appoint someone to act with them and together then sell.So how are you protected then? But the law as if the wills are legal then the deceased’s beneficial share is clear and as their beneficiary that share is yours. How that’s then realised and when is really where your legal advice comes in and formalising the understanding with the surviving legal owner.It may also help to understand in very basic terms the difference between the legal and beneficial ownerships
Legal - that’s the land and building inc bricks & mortar. It’s always dealt with a a whole as you can’t have half a kitchen, half a bedroom and half the bricks & mortar. That’s why the whole legal ownership passes to the surviving owner when a joint owner (TIC or JTs matters not)
Beneficial - that’s the value of the land and building and bricks & mortar. The £s and pence basically. That can always be split hence you can do that with wills and trusts. But it’s only realised when you deal with the £s and pence. So sell it and split the monies or calculate what half is and pay the beneficiary half.Hope that helps but please do get legal advice to confirm the very important specifics which will be unique to you, the property and surviving owner.And finally the answer to your headline Q is Yes you have inherited the deceased’s beneficial share but No you are not the legal owner until the surviving parent transfers it into your joint names“Official Company Representative
I am the official company representative of Land Registry. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"10
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