Property ownership plays a key role in estate administration. The legal structure in which a property is held will determine who inherits it and what formalities must be followed after a death.
Owning a property as joint tenants
The most common way to own a property is as joint tenants. Where a property is owned by the parties as joint tenants, the deceased’s share of the property automatically passes to the surviving joint owner on their death, this is known as the right of survivorship.
If the deceased is holding the property as joint tenants with another (most commonly a spouse) and the property is registered at the Land Registry, then usually after the death of a co-owner the Land Registry will just need the required form to be completed to move the deceased’s name from title together the deceased’s death certificate.
If the land is unregistered, then a copy of the death certificate should be kept with the original title deeds as this will be required when the property is sold or registered for the first time.
Owning a property as tenants in common
If the property is owned as tenants in common, then the deceased’s share of the property will pass in accordance with their Will, or under the Rules of Intestacy, if there is no Will, or no valid Will. A reason for holding a property as tenants in common can help to protect a share of the property from care home fees or for children of an earlier relationship, though specific advice should be taken in respect of this as a Will is also be needed.
Where one of the parties dies and they held the property as tenants in common, the process is different depending on the deceased’s Will, or if there is no Will, then the Intestacy Rules. In most cases a Conveyancer will need to be instructed to transfer the property from the deceased and remaining owner(s) names, to the remaining owner(s) and the Trustees of the deceased’s Will.
Sole Owner
If the property is held in the deceased’s sole name, and is to be sold, then the personal representatives will need to apply to the Probate Registry for a Grant of Representation. A Grant of Representation gives the personal representatives the authority to sell the property in accordance with the terms of the deceased’s Will.
If the property is registered, then the personal representatives will often either assent the property to the people who are due to inherit it (the beneficiaries), or transfer the property to someone else. If the property is unregistered, a transfer of ownership will trigger first registration at the Land Registry.
It is always a good idea to review your property ownership when making a Will to ensure that it passes as per your wishes on death.
How Timms can help
If you would like more information on any topic within this blog, on making or updating a Will or assistance with Co-ownership, please do not hesitate to contact me on 01332 364436 or via email at S.Hilliard@timms-law.com.
Further details of our Wills and Probate services can be found here.
