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  • FIRST POST
    • Flugelhorn
    • By Flugelhorn 16th Apr 18, 8:16 AM
    • 697Posts
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    Flugelhorn
    Property ownership - probate
    • #1
    • 16th Apr 18, 8:16 AM
    Property ownership - probate 16th Apr 18 at 8:16 AM
    Just curious - have just got probate through and there is a property in the estate to be sold.

    Who actually OWNS that property at the moment? Is it the executrix?
Page 1
    • Linton
    • By Linton 16th Apr 18, 8:23 AM
    • 9,331 Posts
    • 9,455 Thanks
    Linton
    • #2
    • 16th Apr 18, 8:23 AM
    • #2
    • 16th Apr 18, 8:23 AM
    The estate owns the property. The executors have authority to manage the estate.
    • getmore4less
    • By getmore4less 16th Apr 18, 9:28 AM
    • 31,890 Posts
    • 19,117 Thanks
    getmore4less
    • #3
    • 16th Apr 18, 9:28 AM
    • #3
    • 16th Apr 18, 9:28 AM
    The legal owners will be the estate, in practice the administrators of the estate.

    The beneficial owners will be determined by will/intestate/survovorship
    • Tom99
    • By Tom99 16th Apr 18, 11:18 AM
    • 1,943 Posts
    • 1,280 Thanks
    Tom99
    • #4
    • 16th Apr 18, 11:18 AM
    • #4
    • 16th Apr 18, 11:18 AM
    The beneficial ownership will only pass to the beneficiaries under a will or intestate if either legal or beneficial ownership is formally assented to beneficiaries or the administration period of the estate has ended because 'the residue of the estate has been determined'

    Until that time the estate is both the legal and the beneficial owner, which is important to know particularly for CGT purposes if the house sells at above the probate value.

    If inherited via survivorship then legal ownership passes direct to the surviving owner not the estate.
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