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Helen Hill
Helen Hill, Lawyer
Category: Law
Satisfied Customers: 478
Experience:  LLB Law, Licensed Conveyancer and Probate Practitioner, Fellow of CILEx, Trust and Estates Practitioner (STEP)
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My partner and I own our home, we are wondering what the

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hi my partner and I own our home, we are wondering what the situation is for inheritance the title says No disposition by a sole proprietor of the registered estate (except a trust corporation) under which capital money arises is to be registered unless authorised by an order of the court.
we want it so that if one off us dies the other owns the house if possible without inheritance tax issues. thanks jon
JA: Where are you and your partner? It matters because laws vary by location.
Customer: England near southampton
JA: What steps have you and your partner taken so far?
Customer: none
JA: Anything else you want the Lawyer to know before I connect you?
Customer: no

Thank you for your question. I am a licensed conveyancer so will be able to help.

The restriction that you have referred to means that you own your property as tenants in common. This means you each own a share of the property and can leave your share to whoever you like under the terms of your Will. The other way to own a property is as joint tenants. If this was the case the restriction you mention would not appear on the property title and would mean that , when one of you dies, the other will receive the deceased's share of the property automatically, regardless of what any Will left by the deceased says. Whichever way your property is owned it won't affect the Inheritance Tax which will be due on the share of property. If you are unmarried, and leaving your share to each other, then the share passing will be part of your taxable estate. Whether IHT is actually due will depend on what allowances you have and whether this exceeds the allowances.

If you want the property to pass 'free of IHT' to each other then you can stipulate this within your Wills however this just means that any IHT due is met from the rest of your estate rather than being directly chargeable against the property.

I hope this information helps. Do you have any further questions I can assist with?

Customer: replied 13 days ago.
no that's fine thanks

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