Legal question about wills

Discussion in 'ARCHIVE FORUM: Support discussions' started by Mjaqmac, Sep 14, 2004.

  1. Mjaqmac

    Mjaqmac Registered User

    Mar 13, 2004
    939
    Does a house have to belong solely to the occupant to leave it to someone in a will? Can a house be willed to someone if there is still a mortgage, does anyone know? Or is this a daft question?
    Thanks.
     
  2. Sally

    Sally Registered User

    Mar 16, 2004
    114
    London
    #2 Sally, Sep 14, 2004
    Last edited: Sep 14, 2004
    Anyone can will their house if they are the sole owner but someone can only will half a house if it is jointly owned. Sometimes a person will do this if their partner is in care and they do not want all of the proceeds of sale to go to the local authority. Does that make sense? The family can then benefit fiancially from half the house.
    You can will a house with a mortgage but you would have to pay off the mortgage before using any of the proceeds of sale.
     
  3. Jude

    Jude Registered User

    Dear Magic and Sally,

    We've had several legal and financial questions arising over the last few days. The answers have been very interesting and really comprehensive. There is just SO much information to take on board about whom to see, where to apply, to which body one applies initially, etc.

    I still feel that a quick chat with a Solicitor or Citizens Advice is the best course of action in the first instance. Although legally similar in content, every situation is different and there may be ways around personal circumstances - with a bit of luck.

    Jude
     
  4. Mjaqmac

    Mjaqmac Registered User

    Mar 13, 2004
    939
    Jude, I didn't even think about citizen's advice! Thanks.
    There's so much to sort out financially. I just wish it was done.
     
  5. Mjaqmac

    Mjaqmac Registered User

    Mar 13, 2004
    939
    Thanks Sally, so basically the person would have to take over the mortgage if they could manage it or sell the house and clear the mortgage?
    I wonder what happens if someone dies without making a will and the house has a mortgage, would the mortgage company take the house and put whomever is still living in it out?
    Sorry to ask so many questions but it's so difficult to make appointments to get out and discuss these things especially with panic attacks and agoraphobia. You are obviously very clued up. Hope you don't mind me picking your brains.
     
  6. Norman

    Norman Registered User

    Oct 9, 2003
    4,348
    Birmingham Hades
    Magic
    there are many ways of drawing up a will.
    Trust funds and other advantages can be incorporated in them.
    The society has a list of solicitors specialising in these matters.
    I would advice you to telephone for their advice.
    Good luck
    Norman
     
  7. Mjaqmac

    Mjaqmac Registered User

    Mar 13, 2004
    939
    Thanks Norman, don't know what I'd do without this site, should rename it The Oracle!

    Magic
     
  8. CraigC

    CraigC Registered User

    Mar 21, 2003
    6,630
    London
    #8 CraigC, Sep 15, 2004
    Last edited: Sep 15, 2004
    Hi Magic,

    if you don't mind signing up for a free trial of Which Online Magazine, you can look at a very comprehensive fact sheet on wills on their site:

    http://trial.which.co.uk/legal_advice.php?p_id=87&roi=303227

    You'll get a 30 day trail for free so you can check out on other legal advice during that time.

    It really is quite shocking how the legal system makes decissions if you have not made a will! Norman is right that you need advice, as making a will in any 'unusual' circumstances really needs professional scrutiny. Most solicitors charge on a time basis so the more prepared you are, the less money you'll have to hand over.

    Just a thought
    Craig.
     
  9. Mjaqmac

    Mjaqmac Registered User

    Mar 13, 2004
    939
    Thanks very much Craig, that's great! You guys know everything.
    Magic
     
  10. Sally

    Sally Registered User

    Mar 16, 2004
    114
    London
    I am not sure what would happen if a house had a mortgage outstanding, the owner dies and there is a tennant remaining in the property but I do know that some mortgages are set up so that if the mortgage payer dies before it is paid up, it is just autmatically paid by an insurance company and can then be inherited by the next of kin/s. This will have been written into the mortgage agreement from the outset so you could possibly check those details.
    Alternatively contact a mortgage advisor and ask them what would happen under these circumstances. Let us know if you find anything out!!
     

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