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house deeds
shazz75
Posts: 13 Forumite
hi,please can someone help me,my mother wants to make a will to leave her house to me and my two brothers but one of my brother's is on the house deeds will she still be able to make a valid will with him still on the house deeds? or should she have home removed? there is also no mortgage on the house! thank you!!
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Comments
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It will depend on how the deeds split the ownership of the property. Are they joint tenants or tenants in common (each owning a set % of the property)?
If he owns 50% now then your mother can leave her 50% to who she wishes but they will be part owners with your brother
Does the brother listed on the deeds live in the property? if not and he gifts his share to your mother then he may have a Capital Gains Tax bill to pay on the increase in property value in the time he has been a part owner.
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She can’t just have him removed he is a joint owner. He could give her his share but if he does not live there that will probably leave him with a CGT liability.If he is not prepared to give up his share, she could leave her share to you and your other sibling, and to make up at least some of the difference with other assets she owns. Should would need to make sure the ownership is as tenants in common. She needs to make an appointment to see a solicitor. ASAP.1
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Hi thanks so much for replying I'm not sure if he is a joint tenant or tenants in common(how would I find that out?),he was put on the deeds as my parents needed him to get a mortgage but he does not live there,I would we find out if he's a joint owner? my mother has no clue,she didn't even realise he was still on the deeds!!0
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Check the Land Registry Title Register for a Form A restriction. If you find a Form A restriction saying “ No disposition by a sole proprietor...is to be registered unless authorised by an order of the court” they are tenants in common; if you don't, they are likely joint tenants.shazz75 said:Hi thanks so much for replying I'm not sure if he is a joint tenant or tenants in common(how would I find that out?),he was put on the deeds as my parents needed him to get a mortgage but he does not live there,I would we find out if he's a joint owner? my mother has no clue,she didn't even realise he was still on the deeds!!If they were TiC and your father died and left everything to you mother she would now own 2/3 and your brother one third (unless a deed of trust was drawn up saying something else). If joint tenants then it becomes 50/50. if the latter was the case then you brother would own it outright on her death if that is not changed.
Your mother really needs to take legal advice on the best way forward either this. Do you get on with your sibling who is on the deeds?1 -
hi,my father has past away just 3 months ago,and yes we get on fine but I don't trust him to share with us so I really wanted my mother to make a will!0
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thanks very much I will check the Land registry and I will take my mother to get some advice!!0
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Yes - talk to a professional, and each other. Remember that if your mother’s aim is fairness then the amount of CGT due in the future on your brothers share probably ought to be taken into account.1
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If they were joint tenants one solution would be for a for them to agree that the tenancy is severed with your mother gaining all of your father’s share so she owns 2/3 with him owning the remaining 1/3rd. As your fathers death was so reason there would be no immediate CGT liability on your brother in doing this.It would of cause still leave him with a potential CGT liability in the future, but at least his share would be guaranteed where as you and you other sibling might see very little if her house had to be sold to pay for residential care.One other approach might be the transfer the whole property to your mother now. Although your brother might be a legal owner it could be argued that your mother is the soul beneficial owner which, if true, would avoid your brother having any CGT liability.1
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I am not sure from the limited information given whether your brother actually has any beneficial ownership of the property. Did he ever contribute towards the mortgage?3
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hi,no he didn't contribute towards the mortgage it was purely on it to help my parents buy a house!0
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