How Long after death does a property have to be re land registered

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ButcherBoy
ButcherBoy Posts: 4 Newbie
in Deaths, funerals & probate
My father passed late last year, we went through probate early this year. There is a property which is on the market but still has not sold. How long after his death do we need to change the name on the land registry triggering stamp duty, as it will have to go in my name (sole beneficiary of the will) making it a second property (8%stamp duty) . any help on a time frame for this would be great please as there will be a £20,000 bill looming.
Thank you

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  • getmore4less
    getmore4less Posts: 46,882 Forumite
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    Why do you think there will be SDLT?
  • Robin9
    Robin9 Posts: 12,103 Forumite
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    Not until it changes hands. There are lot's of property which have yet to be registered.
    Never pay on an estimated bill
  • Flugelhorn
    Flugelhorn Posts: 5,579 Forumite
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    properties stay as "estate of ..." or for sale by "exec of...." and don't need to be re-registered in anyone else's name before the sale. I viewed one where the family had had some correspondence with the council re an old planning permission, the owner was listed as "the estate of... " however this lady had died about 3 years before
  • Keep_pedalling
    Keep_pedalling Posts: 16,628 Forumite
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    No need to transfer, but even if you did there is no stamp duty on inherited property.
  • Owain_Moneysaver
    Owain_Moneysaver Posts: 11,357 Forumite
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    It can remain 'in the estate' indefinately until sold.

    However, an increase in value between date of death (the declared value for IHT or the market value at date of death) and date of sale may give rise to a Capital Gains Tax liability to the estate.

    https://www.gov.uk/tax-sell-property
    A kind word lasts a minute, a skelped erse is sair for a day.
  • ButcherBoy
    ButcherBoy Posts: 4 Newbie
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    oh, i was under the knowledge (from where i am not sure) that i being the executor and the sole beneficiary of the will would have to 'own the house after 12 months of the death. this is great news thank you
  • getmore4less
    getmore4less Posts: 46,882 Forumite
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    You need to understand the difference between legal ownership and beneficial ownership.

    The land registry record legal owners.

    Beneficial ownership is separate and transfers separately, depending on various events, and the terms in the will.
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