As a starting point, see Practice Note: Death of a proprietor of land—sale of property by a sole surviving co-owner, which considers the situation raised in this Q&A. Where property is purchased in the joint names of two or more co-owners, a statutory ‘trust of land’ arises and all trustees must join in any conveyance of the legal estate. The doctrine of overreaching enables purchasers in good faith for money (or monies worth) to rely solely on the legal title. However, to overreach any beneficial interests behind the trust the buyer must pay the

Any person who is a trustee of land or has an interest in a property subject to a trust may make an application to the court under section 14 of the Trusts of Land and Appointment of Trustees Act (TOLATA 1996). The court may make any such order: '(a) relating to the exercise by the trustees of any of their functions (including an order relieving them of any obligation to obtain the consent of, or to consult,

Where two or more people hold an interest in a property as joint tenants, they are each regarded as owning the entirety of them. They do not each have a separate interest which can be assigned or out of which further interests can be created. As a result of the principle of survivorship, when one of them dies, the remaining co-owners continue to hold the entirety of the interest. When there are two joint tenants and one dies, the survivor becomes the sole owner of the interest. See Practice Note: Joint ownership. Where two or more people hold an interest in property as tenants in common, they each own an individual share in it. They may assign it to third parties or among themselves so that one tenant in common might see an increase in the size of share

When B has made a contribution to the purchase price of property purchased in the name of A, a resulting or constructive trust arises; and it follows that the land is then held by A on trust for both A and B beneficially. B’s interest—which is ‘an interest under a trust of land’—cannot, however, be protected by the entry of a notice on the register for the title (section 33 of the Land Registration Act 2002 (LRA 2002)) so as to bind any purchaser of the title in the event that A, post-purchase, declines to satisfy B’s interest. However, note that an ‘equity by estoppel’ may be protected by notice from the time

The Immigration Rules at Appendix W provide the framework for the innovator category. W6.1 covers the endorsement and states that an endorsement letter must be provided by the endorsing body and details what that endorsement letter must include. At W.6.1(c) the Rules state: ‘…(c) if the endorsement is under the new business criteria, the applicant will not need to provide the

We refer you to the following Q&A, which considers a similar scenario to that in your question: A deceased's Will created a life interest in their share of a property for their partner, with remainder going to the deceased's child. The property has been sold within two years of death and the life tenant and remainderman have agreed to a split of the proceeds. Would a variation of the Will or a termination (partition) of the trust be

The general method when calculating the tax on an estate is to omit the value of gifts to exempt beneficiaries to arrive at the taxable value of the estate. The legislative basis for this conclusion can be found in the following sections of the Inheritance Tax Act 1984 (IHTA 1984): • inheritance tax is charged on the value transferred by a chargeable transfer (IHTA 1984, s 1) • a chargeable transfer is a transfer of value which is made by an individual but is not….an exempt transfer (IHTA 1984, s 2) • a transfer of value to a qualifying charity is an exempt transfer (IHTA 1984, s 23(1)), and can take the form of an outright gift, a gift into a fixed interest trust, or a gift by Will The exemption under IHTA 1984, s 23(1) also applies to settled property

Section 91(3)(a) of the Housing Act 2004 (HA 2004) says it comes into force ‘at the time that is specified’ in the license, but no clear guidance on when that time should be. The start date of a selective licence granted by a local housing authority (LHA) is determined by the time specified in the licence itself, as per HA 2004, s 91(3)(a). This means that the licence comes into force at the time specified in or determined under the licence for this purpose. The

In criminal proceedings, a magistrates' court may make a wasted costs order against a legal representative. See section 19A of the Prosecution of Offences Act 1985 (POA 1985) and the Costs in Criminal Cases (General) Regulations 1986, SI 1986/1335, regs 3B and 3C. 'Wasted costs' under POA 1985, s 19A means any costs incurred by a party: • as a result of any improper, unreasonable or negligent act or omission on the part of any representative or any employee of a representative; or • which, in the light of any such act or omission occurring after they were incurred, the court considers it is unreasonable to expect that party to pay Guidance as to the making of wasted costs orders against legal representatives is given in the Practice Direction (Costs in Criminal Proceedings) 2015 paras [4.2.1]–[4.2.8]. The Criminal Procedure

Personal representatives (PRs) are obliged to deliver to HMRC an account specifying to the best of their knowledge and belief all appropriate property and the value of that property as per section 216 of the Inheritance Tax Act 1984. PRs have a duty to deliver corrective accounts when there is estimated or defective information given in original IHT account or where additional assets or liabilities subsequently come to light. For further guidance, see Practice Note: Estates—IHT returns and tax compliance, in particular ‘Duty to deliver corrective accounts when valuations are amended or additional assets or liabilities come to light’. However, just because an asset sells for

The common law presumption is that a landowner owns everything in its original position below the surface of the land down to the centre of the earth. Unworked mines and minerals are presumed to be the property of the surface owner (with certain exceptions including gold, silver and petroleum (existing in its natural condition), which belong to the Crown, and coal which is vested in the Mining Remediation Authority (formerly the Coal Authority)). ‘Mines and minerals’ are defined by section 132 of the Land Registration Act 2002 to include any strata or seam of minerals or substances in or under any land and powers of working and getting any such minerals or substances. When title to land is registered it includes, by way of a

Bona vacantia is the principle under which on dissolution of a company, all property and rights that were vested in it immediately prior to the dissolution become vested in the Crown. The exception to this is in respect of rights which the company held on trust for another entity. Contractual rights the company had the benefit of will pass to the Crown bona vacantia. It is important to note however, that if the company’s last registered office was in Lancashire, most of Merseyside, and parts of Greater Manchester, Cheshire and Cumbria then the Duchy of Lancaster takes the place of the Crown, while in Cornwall the Duchy of Cornwall fulfils the Crown’s role. On the basis that the manager,