Inheriting house and how to distribute proceeds

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Inheriting house and how to distribute proceeds

    A friend with dual UK/Canadian citizenship and has lived in Canada for 30+ years has inherited a half interest in a house here along with an woman who lives in Australia (Oz citizen). To cut a long story short, the house was owned by my friend's father's partner and had been promised to him but the will said different. As my friend is over here and taking charge, is there anything in English law to stop him selling the house to his partner (Canadian) at a nominal figure and sending half the proceeds to Oz. The idea is for him to then rent it out (There's the connection with this forum) to support his disabled daughter.

    #2
    The will stands, whatever he was promised.

    He will not be able to dispose of the property without the consent of the other party who has a half share, no matter where in the world they are.

    Has the property come out of probate yet? What about the tax implications. Get a decent solicitor onto this.

    Comment


      #3
      A solicitor is on the case but this forum has specialists. This all happened over the weekend so at the moment its all in the air.

      Comment


        #4
        There are two key facts you omitted to mention that has a large impact on potential scenarios.
        • Under what jurisdiction will the will be proved under (there are significant differences even between England and Scotland)?
        • Are either of the parties executor, or is it somebody else?


        In England an executor has a very powerful position, and is also very difficult to sue for any poor decisions.
        On some things I am very knowledgeable, on other things I am stupid. Trouble is, sometimes I discover that the former is the latter or vice versa, and I don't know this until later - maybe even much later. Because of the number of posts I have done, I am now a Senior Member. However, read anything I write with the above in mind.

        Comment


          #5
          English jurisdiction. Executor is questionable. Originally the property was to be held in trust by Barclays bank but they made such a mess of the will, once a solictor wrote to them they renounced it. Originally, Barclays were to be the executors but now, I don't know.

          Comment


            #6
            Originally posted by MrWoof View Post
            English jurisdiction. Executor is questionable. Originally the property was to be held in trust by Barclays bank but they made such a mess of the will, once a solictor wrote to them they renounced it. Originally, Barclays were to be the executors but now, I don't know.
            Executor can renounce, but only before "intermeddling", ie before it starts doing things.
            If no executor as a result, major beneficiary will need to obtain new Grant of Letters of Administration with Will annexed.
            JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
            1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
            2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
            3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
            4. *- Contact info: click on my name (blue-highlight link).

            Comment

            Latest Activity

            Collapse

            Working...
            X