Q&As

A Will left a right to reside in a share of the deceased's property to their partner for life. The partner now wishes to purchase the deceased's share of the property. How can the right to reside be formally brought to an end? What are the tax implications of doing so?

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Published on LexisPSL on 05/03/2021

The following Private Client Q&A provides comprehensive and up to date legal information covering:

  • A Will left a right to reside in a share of the deceased's property to their partner for life. The partner now wishes to purchase the deceased's share of the property. How can the right to reside be formally brought to an end? What are the tax implications of doing so?
  • Interest in possession
  • Tenancy or contractual licence to occupy

A Will left a right to reside in a share of the deceased's property to their partner for life. The partner now wishes to purchase the deceased's share of the property. How can the right to reside be formally brought to an end? What are the tax implications of doing so?

The surviving partner may have an interest in possession (IIP) under a trust in the deceased’s share of the property. Alternatively, the right to reside may consist of a tenancy or contractual licence to occupy. The exact nature of the interest will depend on all the circumstances, in particular the terms of the Will.

Interest in possession

For a discussion of when a right of residence for life creates an IIP, see Q&As:

  1. Does a right of residence for life create an interest in possession (IIP) trust?

  2. Does a life interest in a will give a co-owner the right to reside or a right of occupation in the property?

If the Will did create an IIP in favour of the

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