Probate question

[Speed 3]

My Dad died last week after a long illness and me and my Sis are the Executors of his will. Its all pretty straightforward as Mum is pretty organised and he'd been in a care home for several years. Estate value won't remotely trouble Inheritance Tax and he left a will passing it all to Mum. Only question is around the property. When they moved into a retirement bungalow, I contributed 10% so the deeds reflect 90% owned by them jointly and the 10% in my name. It was set up as Tenants in Common but don't think that has any particular bearing given the IHT.

Question is, do I now have to have the Deeds formally amended by a Solicitor to reflect the new 90/10 ownership split or does his death just become a registered event and it all gets dealt with when Mum passes and the house is sold ?

Ta

[konark]

The 'deeds' already recognise the 90/10 split between you and your parents, the fact that your mum alone now owns the 90% will require the Land Registry entry to be changed but this can be done anytime. People often only get round to it when a sale is imminent.

[Rude-boy]

konark said:

The 'deeds' already recognise the 90/10 split between you and your parents, the fact that your mum alone now owns the 90% will require the Land Registry entry to be changed but this can be done any time. People often only get round to it when a sale is imminent.

... Or on the second death.

I would suggest that this does not have to be done now but it will have to be done in one form or another at some point. The most important thing to do though is to get the Grant of Probate in Dad's estate. Even if you don't do the requisite Assent or Transfer the GoP will save more than the cost of getting it in extra st, hassle and fees when you do come to deal with the property further.

There are also future concerns as to who has capacity to sign in what capacity. For example you could not sign a transfer to a new owner as both yourself (as 10% owner, assuming that you are on the title) and as as an Executor of your late fathers estate. All fine and dandy if both Mum and Sis are still about but if either is not (and especially if you and Sis are the execs of Mum's will) it starts to cause all sorts of legal and other issues.

Long as it is short but my view is that you should always sort today what will be a bigger ball ache to sort out tomorrow!

[Speed 3]

Thanks both, will get around to it sooner rather than later.