Eligible for Help to Buy ISA if you've inherited a property?

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Oakeshott
Oakeshott Posts: 67 Forumite
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in Mortgages & endowments
I'm looking to buy my first home soon and my partner and I are trying to save for a deposit. I would like to set up a Help to Buy ISA for that purpose, but I'm not sure I'm eligible because many years ago when I was a teenager I inherited part of a property from a family member who passed away, which was sold immediately after their death.

I spoke to my bank on the phone and they didn't seem sure if I was actually eligible or not and said something about 'If you were never on the deeds then you are still eligible...' (I'm fairly certain I was never put on the deeds, but I don't know how to check). Does anyone know the rules on this and whether I would be eligible?

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  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Oakeshott wrote: »
    I inherited part of a property from a family member who passed away, which was sold immediately after their death.

    Did you actually inherit the property, or simply receive your share of the proceeds when the property was sold and the net estate after costs distributed.
  • Oakeshott
    Oakeshott Posts: 67 Forumite
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    I really can't remember. I was still a teenager and wasn't the one handling everything. I know I was named in the will and that the property was sold off before long, but I recall everything being handled by a solicitor, so I'm wondering if there was some kind of trust set up.
  • Tom99
    Tom99 Posts: 5,371 Forumite
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    [FONT=Verdana, sans-serif]Unless you investigate it further you are never going to know whether you had a beneficial interest in the property.[/FONT]
    [FONT=Verdana, sans-serif]From what you say I would be inclined to think the property was sold by the estate and you did not become a beneficial owner so answer the question about past ownership as “no”.[/FONT]
  • Keep_pedalling
    Keep_pedalling Posts: 16,623 Forumite
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    If you were a minor at the time you certainly would not have appeared on the deeds.
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