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Thomas
Thomas, Lawyer
Category: UK Law
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Experience:  BA (Hons), PgDip, Practising Solicitor
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Hi, my wife had to sign a "deed of consent and postponement

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Hi, my wife had to sign a "deed of consent and postponement by non owner occupier" when I tool out a mortgage for our home. I now want to make a will a leave the property to her as it will be paid from life insurance or pension etc. How do I word the will so as to revoke the deed she signed?
Hi

Thanks for your patience.

The deed that you refer to is for the lender’s benefit. They require a non-owning occupier to sign this as an acknowledgement that the lender’s legal charge is the first priority (ie. the first call) on the equity in the property.

It will not make a difference to the Will that you propose to make, which is to say that if you make a Will leaving the property to your wife then she will inherit it upon your death regardless of the fact that she has signed the Deed because the mortgage will be paid by your life insurance or otherwise.

If you life insurance does not cover the mortgage then she can inherit the property but subject to the lender’s charge so that if the property is sold the charge will still have to be paid off.

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Kind regards,


Tom
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