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Posted Tue, 12 Nov 2024 14:27:25 GMT by BETH SHEARER
Good afternoon,  I have a practical question, please....

Mr and Mrs A own property with form A restriction.
Mrs A has died leaving her interest in the property to their only son (who is executor)

Can the son Assent her interest in the property to his father (sole remaining proprietor) and, when registering the AS1, submit an ST5 and RX3 to remove the Form A ?

Does this work ?  Thanks for any assistance you may be able to offer.
 
Posted Tue, 12 Nov 2024 14:49:55 GMT by Adam Hookway
Good Afternoon Beth - simple and practical answer is No as you cannot assent/transfer a share. The legal ownership is dealt with as a whole. The form A restriction and 'beneficial interest' are quite separate considerations.
So when Mrs A died the whole legal ownership passes to Mr A. Probate is not required.
Mrs A's beneficial interest still exists and IF her beneficiary, son, wishes then that can be passed to Mr A. If that's what is wanted then we need a form DJP plus death certificate to update the register re Mrs A's death.
And form RX3/ST5 from Mr A to explain how he has become the sole legal and beneficial owner.
Posted Tue, 12 Nov 2024 15:10:46 GMT by BETH SHEARER
okay,  thanks....I think I see although I'm still unclear on how the beneficial interest passes from beneficiary son to Mr A.....should this just be referenced in Mr A's RX3/ST5 ?
Posted Tue, 12 Nov 2024 15:33:41 GMT by Adam Hookway
Beth - his passing on or giving up her beneficial interest is an 'act' really. In many ways the beneficial interest isn't tangible in the same way as the legal ownership is 
So when Dad states the facts behind how he has become the sole beneficial owner he can explain the facts (acts) that have happened to confirm that.
If you are concerned re belt & braces then a ST5 from the son explaining how he inherited his Mum's beneficial share but gave it to Dad can also be submitted
Posted Tue, 12 Nov 2024 15:48:02 GMT by BETH SHEARER
Brilliant - thanks Adam.  That's very helpful.  Much appreciated.

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