I jointly bought a property outright with my partner of 11 years (we r not married). If I die first how can I ensure my half investment in the property goes to my children?
System of Law: England-and-Wales
HiThanks for your question .For clarity and the avoidance of doubt, could you please respond to the following USING THE SAME NUMBERING:-1. Do you hold your interests are a) Joint Tenants, or b) Tenants In Common?Kind regards.Tom
We are joint tenants
Hi, Thanks. Your certain? You understand terminology and can remember that you specified that you wish to hold your interests as such when you bought the property?Tom
Yes I am afraid so
Hi Thanks for your reply. It’s not a problemIf you hold your interests as Joint Tenants then this means – as things stand – that were you to die then your interest in the property would pass automatically to your partner regardless of any direction otherwise made in your Will (if you have one). If this is not what you want and you instead wish for your interest to pass to your children then you should sever the joint tenancy by using Form SEV from the Land Registry (you will have to send it to your partner and if you have any questions about completing the form you should call their customer service number - they are very helpful):-http://www1.landregistry.gov.uk/publications/?pubtype=49Post severance of the joint tenants you will hold your interests as Tenants In Common meaning that your interests would pass according to your Will or under the intestacy rules. If you do not have a Will then your estate (included your interest in the property) and are unmarried then your estate would pass to your children in equal shares. If they are younger than 18 then a trustee would have to be appointed to manage the money until they are of age. Presumably this would be their mother. If you do have a Will specifying that your estate should go to persons other than your Will then you need to change it. If you are fine with the estate passing to your children under the Intestacy Rules but wish to specify who should look after their inheritance until they are of age then you need to make a Will to specify the trustee/executor of the estate. Please remember to RATE my answer ***3 STARS*** or above if you are satisfied that you have received the correct legal advice (even if it is not the answer you wanted to hear), otherwise I do not receive any credit for answering your question. It does not cost you any more money to rate my answer 3 stars or above.If you wish for me to provide you with further guidance on any question you may have in the future then please submit a further question to the board requesting me either by my profile or by marking your question. “FAO Tom”. Kind regards,Tom
BA (Hons), PgDip, Practising Solicitor
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).