Restriction a

queenieq5

My partner has a restriction a on his title deeds. This was put on just before the death of his wife as they have 3 children and I'm assuming its so that if anything happens to him, that his boys will be entitled to half of the house.
There is no mortgage on the house and he's looking to get a small mortgage for home improvements. 
Apparently he can't get a mortgage as things stand because of this restriction a.
Can this be removed with the children's permission? ( they are all adults)
Thanks 

DE_612183

what are the details of the restriction - are you sure it's mot linked to a debt?

queenieq5

It says
No disposition by a sole proprietor of the registered estate (except a trust corporation)under which capital money arises is to be registered unless authorised by an order of the court

MWT

... are the 'children' registered on the deeds as tenants in common?

Keep_pedalling

It sounds like the tenancy was severed before she died. Did she have a will in place? If she did what did it say about the house
?

Rodders53

It will all depend on the Trust Deed set up and signed at the time, and what that says.  Partner needs to find it to know.  Solicitors who set it up / registered the restriction may have a copy still.

Most likely was the relatively simple change from Joint Tenants (both own, and survivor gets 100%) to Tenants in Common (usually 50:50 split, but can be any proportion).  On the first death the Will will specify what happens to the 50% (wife's in this case) share.  (i.e. the three children, now adult, inherited it - in equal shares?)
So that Will needs finding, too.

Legal advice may be needed but those Documents as a minimum will be needed for a Solicitor to advise accurately.

As for borrowing to fund "home improvements" - a secured loan may not be the best way to do that unless.  Unsecured personal loans may be just as cost-effective?

queenieq5

MWT said:

... are the 'children' registered on the deeds as tenants in common?

I don't believe so

queenieq5

Rodders53 said:

It will all depend on the Trust Deed set up and signed at the time, and what that says.  Partner needs to find it to know.  Solicitors who set it up / registered the restriction may have a copy still.

Most likely was the relatively simple change from Joint Tenants (both own, and survivor gets 100%) to Tenants in Common (usually 50:50 split, but can be any proportion).  On the first death the Will will specify what happens to the 50% (wife's in this case) share.  (i.e. the three children, now adult, inherited it - in equal shares?)
So that Will needs finding, too.

Legal advice may be needed but those Documents as a minimum will be needed for a Solicitor to advise accurately.

As for borrowing to fund "home improvements" - a secured loan may not be the best way to do that unless.  Unsecured personal loans may be just as cost-effective?

Yes, they changed to tenants in law shortly before her death, and I believe that the will states that if my partner dies and is in a relationship or remarried that her half of the house, if sold, goes to the children

queenieq5

Keep_pedalling said:

It sounds like the tenancy was severed before she died. Did she have a will in place? If she did what did it say about the house
?

Yes, this was the case, and in the will I think it states that her half of the house will be split between the children if my partner dies and house is sold

Keep_pedalling

That sounds like an immediate post death interest trust, which would be normal in this situation,  your partner only owns 1/2 the house. The other 1/2 is owned by the trust and his children are renaindermen and will inherit her share of the house on his death.

The restriction cannot be removed without winding up the trust which is not something they should agree to. 

queenieq5

Keep_pedalling said:

That sounds like an immediate post death interest trust, which would be normal in this situation,  your partner only owns 1/2 the house. The other 1/2 is owned by the trust and his children are renaindermen and will inherit her share of the house on his death.

The restriction cannot be removed without winding up the trust which is not something they should agree to. 

I'm not sure I understand that.... I'm guessing it's something that we will discuss with the solicitors