Hi,
Dec’d Will left the whole estate to a residuary DT. Son and Daughter are trustees, but only Daughter applied for Probate. No acrimony.
The only asset is the house, really and well below £325k. All have agreed to pass the property to the Daughter. Deed of Appointment done.
Daughter wishes to borrow money, and lender’s solicitors are taking issue with the TR1. They say it should be an AS1. The effect will be the same, obviously, so I’m not sure why they are delaying.
But I don’t believe it is an AS1. The executors are not passing it to a beneficiary of the estate in the classic sense. They are carrying out the Trustees’ actions. Are they right to insist on an AS1?
(Either way, in circumstances like this, where there is no consideration, what difference does it make, if the forms are correctly completed with the facts?)
Kam