Do you have to make a will for your half of the House?
Do you have to make a will for your half of the House?
It is therefore imperative for you to make a Will if you wish your children to benefit from your half of the property. In the Will you can gift your share of the property to them and give your husband a right of occupation until his death.
What happens to my half of the house when I Die?
It can also be registered with the Land Registry. If you own the property as Tenants in Common, then upon your death your half of the property will pass in accordance with your wishes as stated in your Will. If you die without a Will the rules of intestacy would apply.
Can a joint tenant leave their half in a will?
A joint tenancy property in which only a single owner remains after the death of the other owner receives absolute interest in the property. This is, of course, the inherent nature of the JTC, which means that all individuals entering into this form of agreement should be aware of this before continuing further.
Can you leave half of a property to your children?
You can elect to leave your half of the properties to your children in a trust and give a life interest to your spouse in the properties. Your spouse would then be entitled to the income arising from the properties, for example rent, for the rest of her life. As soon as a property is sold the children would be entitled to half of the proceeds.
It is therefore imperative for you to make a Will if you wish your children to benefit from your half of the property. In the Will you can gift your share of the property to them and give your husband a right of occupation until his death.
It can also be registered with the Land Registry. If you own the property as Tenants in Common, then upon your death your half of the property will pass in accordance with your wishes as stated in your Will. If you die without a Will the rules of intestacy would apply.
A joint tenancy property in which only a single owner remains after the death of the other owner receives absolute interest in the property. This is, of course, the inherent nature of the JTC, which means that all individuals entering into this form of agreement should be aware of this before continuing further.
How can I leave my half of the marital home?
As Tenants in Common you will each own 50% of the property and if you wanted to you could gift your 50% to your children in your Will. In order to sever the current Tenancy you have to issue a Notice of Severance to your husband.