Inheriting part of a property from one of two tents in common

[lozster]

A relative recently died and left 50% of a property to me that he owned as a tenant in common. This is apparently meant to go in to trust. The other tenant can continue to live there for their lifetime.

I am the executor and I have a grant of probate now but I’m really unsure what I’m meant to do next? Do I need some form of conveyancing like when buying a house? Can I just ask for the deeds to be changed? Do I need to take any action to set up a trust? I’ve found it really hard to find advice online...

tents?? I do of course mean TENANTS

you need to find out if the other tenant has a lifetime interest in the property of can they transfer it to another property if they downsize

my parents own their house as tenants in common as my father is quite a lot older than my mother for them my mother has a lifetime interes tin my fathers share including down sizing so for ease say the house is worth 200k my father's 100k share would be in trsut for myself and my sisters if my mother decided to downsize to a bungalow worth 130 she can do that and we would have a 30 K interest in new house and 70K to share, if the bungalow then needed to be sold as my mother needed to move into care we would then get the remainign 30K to share between us and my mothers 100K would go towards care costs

however some tenants in common will only last until house sold ( without downsizing clause) so if the other tenant decides to move on he will get his 50% and you will get the 50% you inherited
his lifetime interest means you can't force a sale to get your share now

I do not know whether you need to register your name on deeds or land registry but you may do so it can't be sold under your nose and you not get your share

Consult a solicitor? You do need to establish ownership and talk through what the options are. Who will maintain it? What will shoring if the other owner doesn’t play ball with bills? There is a lot to think about and you could be seriously out of pocket if the other owner isn’t reasonable. It could be all bills and no financial gain for you as you cannot, I presume, let it out. I would go through all of this with s solicitor.

What will happen if the other owner doesn’t play ball with bills - that should read. Also who are they leaving their share to? 10 grandchildren? Or similar. You do need to know where you stand.

The other tenant in common is a close relative who is leaving their share to me too. Trust, as described in will has an option to downsize. There is no pressure to sell the house, indeed I’d happily give up my right and hand it to the other tenant if that was better. No issue with bills either.

What I’m confused about is how I enact the trust part of the will? I would rather not go to a solicitor (I’ve managed all the probate without one) at all but if I have to I’d rather go forearmed with an idea of what needs to be done.

I would give the Land Registry a ring, they might be able to advise you what forms you need to use to register your interest in the property.
I assume you're not over the IHT threshold with a 50% share, so take your share now, in case the 100% when you inherit the other 50% takes you over.

Good advice fastliving I will contact land registry direct

I had this with a relative. Please see a solicitor. It’s a minefield should the other party decide to downsize as we had the option of continuing the trust or dissolving it. Also there were responsibilities bestowed on us as trustees that were not made clear when the trust was originally drawn up - whilst not onerous, they were additional responsibilities in addition to the normal ones we all have. Dissolving the trust has also left potential future problems.
If you can, find out why the trust was originally drawn up as this will have an impact on future decisions.
Go to a solicitor with all the paperwork!

I think this was set up to limit potential care home fees. This is a joint tenancy severed a number of years ago. So to prevent either tenant in commons 50% ever being used to fund care for the other. I think as well that it may also make any sale of the house for care costs problematic.

I have mixed feeling about this - if cash were needed for the remaining tenant in common to fund care in a decent facility then I’d probably want to liquidate anyway. However, this is not what the will specified and there is another beneficiary apart from myself so I can’t ignore this.

This exactly the reason our relative set up the trust ... in reality (ten years on) it hasn’t worked - only served to complicate matters hugely. Despite the surviving relative downsizing and the trust being ‘dissolved’ our legal situation is still that the half of the home left in trust, is effectively still being held back from us to pay care home fees - the very thing the original solicitor advised the trust was set up to avoid. Basically, the council have ruled it is deprivation of assets even though a decade has passed since the trust was originally set up. Please please take legal advice.

I’m going through this right now
My mum left her half to my son and my sister
My dad has a life interest and then should he pass is half goes the same way
I got in touch with the will writer who wrote my parents will who put me in touch with a solicitor to deal with it.
I just have to wait till I get probate which I did myself as an executor and then I can get it done it will cost approximately £300 - £350.

Would also add that I dealt with everything probate tax funeral closing bank accounts but this was way over my pay grade 😂 and to important to mess it up 😂

You replied to me saying you were the beneficiary of the other owner. You now say there is another beneficiary apart from you. This sounds confusing so I really think you should consult a solicitor. You don’t appear to be hard up so why not? Paying for advice is worth it.