haring inherited property

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    haring inherited property

    i am inheriting a property and would like to place half in my grandsons name.
    as anyone done similar?

    #2
    You should consider using a deed of variation

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      #3
      If under 18 years, you should check if he can be registered as joint owner .

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        #4
        You need to speak to a solicitor before doing anything.
        A deed of variation, which changes the will sounds likely to be a sensible option, but it might be more sensible to inherit and put the property into trust with or for your grandson - it depends what you want to achieve and over what time scale.
        When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
        Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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          #5
          A deed of variation (aka a deed of family arrangement) is what you need. It should be done within 2 years of death if saving or reducing tax is involved.

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            #6
            Originally posted by Gordon999 View Post
            If under 18 years, you should check if he can be registered as joint owner .
            Section 1(6) Law of Property Act 1925:

            A legal estate is not capable of subsisting or of being created in an undivided share in land or of being held by an infant

            "Infant" outdated term for "minor".

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              #7
              You can put his half in a bare trust. Do consider the possible consequences though. Your grandson won't be eligible for first time buyer incentives and will have to pay additional stamp duty if he buys his own home.

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                #8
                thanks for help to everyone who replied, great forum

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