The husband of the Deceased died in October 2023 and had a ‘standard’ life interest Trust for the marital property included in their Will.
Executors and Trustees, were the wife and 2 adult children. Wife as Life Tenant and 2 children as remainderman (not drafted by myself or my firm) for the property and wife the sole residuary beneficiary.
OCE confirms property held as tenants in common with the usual Form A restriction in part B.
Wife then died just 4 months later in February 2024.
Nothing has been done regarding the Husband’s Estate.
I am now instructed by the wife’s estate to apply for the Grant of Probate as the 2 executors (2 adult children) are also now the 2 residuary beneficiaries for their mum’s estate and they want to sell their parents house.
The questions i have is should a GOP also be obtained for the husband’s estate as well as the wife’s estate here so the property can be sold?
Normally when I deal with a Life Interest Trust a GOP is obtained so the Title Deeds can be updated with the Trustees named added.
Whilst a grant to the husband’s estate will not be required to sell the property, it will be required to enable the lawyers acting in the sale to account to the appropriate persons for the husband’s half share of the sale proceeds. If they pay to who they think might be entitled to the proceeds and a subsequent claim is made (or a third party presents a grant) I wonder how they would explain their actions to their insurer.
Paul Saunders FCIB TEP
Independent Trust Consultant
Providing support and advice to fellow professionals
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Since my original query - I have now been advised that a TR1 has in fact been filed with the Land Registry by the wife in Dec 2023 adding the Trustees names to the Legal Title and a Declaration of Trust completed showing how the property is owned. This has not yet been approved by the Land Registry at this time (I add this was not done myself or my Firm as well). Would that change your view regarding a GOP being needed?
The fact that the widow appointed them as trustees of land with her does not give them legal title to her late husband’s share of the proceeds of sale. I would therefore still advocate obtaining a grant in H’s estate.
Paul Saunders FCIB TEP
Independent Trust Consultant
Providing support and advice to fellow professionals