Hello and thank you for your question. I will be very pleased to assist you. I'm a practicing lawyer in England with over 10 years experience.
May I ask if the property is presently rented to tenants please and if so the approximate length remaining on the tenancy (if any)?
yes it is rented and the tenant are in for the long haul, they had a business which went bust and sold their property to settle debts so they want a long term ongonig rent , which suits everyhbody,.
Thanks. Just for my information, may I ask if you ask on behalf of tenants or the landlords estate?
the landlord is my father
Thank you. Please accept my sympathies for your loss.
I will with your permission address each of your questions in turn:
1) the policy remains in effect however the executors should give consideration to notifying the insurer of the death of the insured and provide names and addresses of the executors. It is likely be insurer will require a death certificate and so consideration to giving the notice in writing is likely to be preferable than by telephone
2) until the property is transferred to the beneficiary or beneficiaries entitled under your father's will, insurance should be effected in the names of the executors. after it is transferred, it should be in the name of the beneficiary or beneficiaries concerned
3) the rent should be collected by the executors and held in an executors account the rent will belong to the beneficiary or beneficiaries of the property which may or may not be more than one party - I believe from what you say here, it is to be shared between you and your siblings
in general terms, by virtue of section 1 of the administration of Estates act, upon the death of an individual, legal control and authority in respect of all of that individuals assets transfers to his executors and this is the underlying legislation that underpins the above
Is there anything above I can clarify for you any further?
No that all make perfect sense and should be easy to manage.
Thanks for your help
If you have no further questions for now I should be very grateful if you would kindly take a moment to rate my service to you today. Your feedback is important to me. If there is anything else I can help with though please reply back to me though.
Not at present I may have as my fathers estate is very simple I intend to carry do the probate myself- I now know where to go if I get any other questions like this