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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 70506
Experience:  Over 5 years in practice
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My parents passed away and left their bungalow to myself and

Customer Question

My parents passed away and left their bungalow to myself and my two sisters - equally.

We have been renting the bungalow out to the same tenants via Letting Agents since August 2012. We have experienced no problems and intend to continue with this course of action for the foreseeable future. The tenants have just renewed the agreement for another year - until February 2015.

Unfortunately our younger sister died suddenly last year. Her estate (which includes 1/3 of our parents property) automatically passes to her husband. Her husband is agreeable that this 1/3 should be split equally between their 4 children - 1 of which is still a minor (15). This is not an issue at present as the rent is covering the mortgage and there are no funds as such at the moment. There will only be funds once the mortgage is cleared and/or the property is sold.

I was thinking of drafting an agreement between myself and my remaining sister and my sisters widow to this effect which I would get signed and witnessed. What is the best way to go about this.
Submitted: 3 years ago.
Category: Law
Expert:  Jo C. replied 3 years ago.
Hi.

Thank you for your question. My name is XXXXX XXXXX I will try to help with this.

If you are looking for an agreement whereby your late sister’s one third of the house does not go to her husband, but goes equally to the children, the husband can easily do that either with a deed of variation of your late sisters will or a deed of trust.

If you wanted the children's name on the deeds of the house, it would need a separate deed of trust in any event, because the land registry cannot facilitate more than four owners anyway and there needs to be a separate trust in respect of the minor. The 1/3rd, 1/3rd, 1/12, 1/12, 1/12, 1/12 also needs to be reflected in a deed of trust

Until the minor is 15 it would simply be easier for the husband to keep the property in his name with a separate deed of trust for the children.

Can I clarify anything for you?

Jo
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Expert:  Jo C. replied 3 years ago.
Thank you for the positive rating and remember that I am always available to help with your questions. For future information, please start your question with ‘FOR JO C’. You can also bookmark my profile http://www.justanswer.co.uk/law/expert-remus2004/
Customer: replied 3 years ago.

Thank you for your help and information.

Expert:  Jo C. replied 3 years ago.
No problem.

All the best.