Inheriting property after death, not married?

Markus251

Hi there,

I am in the process of purchasing a property with my partner of 30years. We are not married or anything else official.

We have no will, yet, and we're wondering as of right now, what would happen to our house if one of us dies? The property is being bought outright so no mortgage etc to worry about.

Am I right in thinking if for example I were to due, my partner would automatically inherit the property?

It is being purchased as 'joint tennants'. Oh and we're in England.

I've searched Google but keep getting conflicting advice. (Good old Google!)

I just want to be sure if either of us dies, the other has a home and it isn't automatically transferred to other relations etc.

Ayr_Rage

Make wills and that's the issue solved.

Worried_fool

Presumably you are using a solicitor to handle the process of buying the house. Why don't you put these questions to the professional who is working for you?

gwynlas

Is there a valid reason not to be married orenter civil partnership, both give tax advantages on death?

poseidon1

Owning as Joint tenants ( rather than tenants in common) , would mean on death of one the survivor automatically inherits the property from the other.

However, I assume you both have other monetary assets as well occupational pensions?

Surely you need Wills for the other non property assets to ensure the survivor gets those ( if that is your intent). With regard to pensions, there maybe issues with survivor's pension if you are not married or civil partners.

Finally, if each of your assets ( including the house) exceeds £325k, IHT will be chargeable on the excess above this figure on first death. No such problem arises if you were married.

Keep_pedalling

If owned as joint tennants it passes by survivorship, but without a will your partner inherits none of your sole assets. The other issue is your marital status, if either of you has assets in excess of £325k then IHT is going to be an issue. So make a will and either marry or become civil partners.