Charge over property, Petitioner now died.

[Elsie68]

Hello,

My in-laws divorced in 1999. The house was transferred to my mother-in-law but with a charge of 25% net value to be paid to my father-in-law on her death, the sale of house or if she remarried. My father-in-law died 4 years ago and his estate has been administered. What happens now when my mother-in-law eventually dies, she hasn't remarried? Did the charge diminish on her ex-husband's death? The executor of my father-in-law's will knew about this charge, the executor was his second wife.

The charge states:

"Upon completion of the transfer of the property to the Respondent shall forthwith execute a charge upon the property in favour of the Petitioner for 25% of the net proceeds of the sale of the property......"

This is part of another issue with my father-in-law's will which we have now discovered was badly written by a solicitor. This charge was not mentioned specifically in the will. I will post about this in a separate thread.

Any direction would be most gratefully received. Thank you.

Are there still live beneficiaries?

Who were the beneficiaries of each will?

Yes.

My husband, his brother my their stepmother.

not a legal eagle and I think you need proper advice. This is because a valid will remains valid forever so its possible that when your MIL dies, the money should be paid to whever was the residual beneficiary of your FIL's estate.

So I think yes the charge still holds and that means the Stepmother should get 8.33% of the net proceeds from the sale of the hoise

is the relationship ok with her?

You need legal advice but I would think that 25% would be split between the beneficiaries of his well, or their descendants if any of them are dead.

Thank you everyone!

The charge is an asset of the estate. When MiL eventually dies FiL’s share must be paid to his executor.