I am acting for the executors of the estates of both Mother and Father.
Mother and Father each owned a share of a property as tenants in common with their daughter. The property commenced as equal ownership but over the years the parents have released part of their shares to the child. The property is a mixed use; part commercial and part residential.
I would normally apply a 10% discount for the probate value to allow for the shared ownership. However, I wondered in what circumstances it may be possible to claim a percentage greater than 10%. I have asked surveyor but they do not know. I should be grateful if anybody has any knowledge or thoughts on this subject.