Thanks for your enquiry. I would propose the following wording which you can use or modify if you feel it is needed. There is no magical wording required, and provided the below is included, this will be sufficient.
(a) My Trustees must allow A to occupy the property known as 123.. ("the Property") SUBJECT to him paying £150 rent per calendar month.
(b) A must:
(i) pay all outgoings on the Property;
(ii) keep the Property in [good repair and condition OR at least as good repair and condition as it is at the date of my death}; and
(iii) keep the Property insured in my Trustees' names, complying with my Trustees' directions about the level of insurance cover and choosing an insurer
(c) [My Trustees must not sell the Property without the written consent of A unless, in the reasonable opinion of my Trustees, he is not capable of giving his consent.
(d) A is entitled to enter into a lodgers agreement pertaining to the Property with any third party or parties if he so desires.
I hope this assists.
I take it that “My Trustees” refers to my two sons who will both be Tenants In Common of the property. Are Tenants In Common automatically referred to as Trustees? Does this title of Trustee have to be mentioned anywhere else in my will.
What would you suggest for the wording for a fixed rent per calendar month ? Can I just use the words “a fixed rent of £150 per calendar month” ? I don’t want my sons to increase the rent in order to persuade my husband to move out of his own accord.
At the beginning of your Will, you will need to appoint
Executors, who will also act as Trustees. So, I wasn't referring to the "Tenants in common".
The Executors/Trustees will normally be 2 family memebers, who will have the job of administering your Estate and making sure the property is amintained as it should be and overseeing the payment of rent and the other provisions relating to the property as mentioned in your Will. It is therefore wise NOT to appoint Derek or the
children as Trustees, to avoid their interests being conflicted.
Executors clause- "I appoint X of***** Anytown and Y of 3 High Close, Anytown to be the Executors and Trustees of this my Will".
If you would prefer your children to deal with administering your Estate, you could appoint them as Executors, and then appoint 2 other people as Trustees. However, it would be normal for the same 2 people to act as Executors and Trustees.
I would always people to ask a local Wills Solicitor to draft their Wills, to avoid any problems in the future and so that full advice can be given.
Thanks for your answer. It seems that what I want entails more than a DIY will after all.
With reference to the second part of my question, "can I just use the words “a fixed rent of £150 per calendar month” ?" would there be any problems with determining a fixed rent in my will, or should the rent be decided upon between my sons and my husband (who is not their father by the way) after I have died?
You are free to just use the words "a fixed rent of £150 per calendar month" as long as you are happy for this amount to be paid for the whole duration of Derek's occupation of the property.
Hopes this assists- I would still suggest that you see a local Solicitor to ge tthe Will drawn up.
Hi Al, thank you for your excellent service and advice. I can now proceed on a more informed footing.
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