Conveyancing

Are you moving house and need a solicitor to complete the formalities?
When appointed we liaise directly with your estate agent and the purchasers solicitor with the view to completing the formalities as quickly and smoothly as possible.

Tenants-in-Common

“Jointly” held property (your house) automatically passes to the survivor in the event of death and therefore the property belongs to the survivor. To avoid your home being sold to pay for Residential Care or in the event of your spouse remarrying and forget to make a new Will (as marriage revokes all former Wills) the assets of the house could be taken to cover Residential Care costs or pass to a new spouse. The legal way to ensure this does not happen is to simply change your house Deeds from Jointly held to “Tenants-in-Common”. This way you create a Property Trust and guarantee that your half of the house will pass to whoever your Will states.

You can put a provision in your Will to allow your spouse to use your half of the house for the rest of their life. Your Will would be redrafted to include a lifetime Property Trust. This provision would give the survivor full control of the house allowing them to sell and purchase another house anywhere in the world by reinvesting your half in the new property. If they purchased a cheaper house then, 50% of the excess (the money over after purchasing the new house) would belong to your beneficiaries as indicated in your Will.

 

Phone: 01279 600003
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