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Posted Sat, 07 Sep 2024 17:00:41 GMT by M R
In his will my late Dad made my Mum, myself and my elder brother and elder sister executors. However only my mother and I are named as such on the Grant of Probate. The will gives to the Trustees (Executors) my Dad’s half of the family home to be held 'in trust for sale', postponed while my Mum occupies it (or whatever property she might move to with the proceeds if she decides to sell). When this trust ends the house shall pass to us five children (I also have a younger brother and sister) in equal shares. I am completely confused by the paperwork because, apart from the mention in the will, there is no other legal form or reference to this trust. So does the title registration now need to pass from my Dad and Mum to my Mum and a trust for my siblings and I managed on our behalf by my Mum and I?
I've looked on the forum for examples of beneficiary trust arrangements but not seen one that has this extra complexity! Any examples or guidance gratefullly received.
Many thanks in advance
 
Posted Mon, 09 Sep 2024 12:15:11 GMT by Darren Standring
I am sorry for your loss,

As i do not have a specific title register to consider the following is in general terms.

The legal ownership is always dealt with as a whole. It is the beneficial ownership that can be split in the way you described.

If the property is to be transferred then it would require a Transfer (form TR1) by your Mother to herself plus whomever needs adding. Our online guidance explains what's required A joint proprietor restriction indicating that a trust is in existence is another option.

The reason I say 'If the property is to be transferred' is that it is always recommended that you all seek legal/financial advice before deciding on what to do. We deal with the outcome of such advice and once you have decided what's best.

Darren

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