who OWNS the house

S

samfarrell

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My grandmother passed away some years ago, she owned a house and some land..... and left a will, her son was named as executor and naming my mother as a life tenant and myself and 3 siblings as remaindermen.
Probate was taken out some time later but for whatever reason no ownership was ever transfered. So, my grandmother is still named as owner. My own mother is still alive
My uncle (the executor) died last year so i guess the property is now part of his estate
Does that mean his estate own the property now ?
What will this all mean in terms of tax liability?
 
samfarrell said:
My uncle (the executor) died last year so i guess the property is now part of his estate
Does that mean his estate own the property now ?
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From what you say, your uncle was the executor of your grandmother's estate, but not a beneficiary.

Is that correct?
 
If the will was proved ie probate was taken, then ownership passed to the beneficiaries ie you and your siblings now own the house and your mother has a life interest.

As the executor has now died, you can apply for an administrator to be appointed who can then finalise the legal paperwork.

The fact that the legal paperwork was not filed does not invalidate the will.
 
jpd said:
If the will was proved ie probate was taken, then ownership passed to the beneficiaries ie you and your siblings now own the house and your mother has a life interest.

As the executor has now died, you can apply for an administrator to be appointed who can then finalise the legal paperwork.

The fact that the legal paperwork was not filed does not invalidate the will.
Click to expand...
Thanks for the replies
Once we proceed with Administrating the estate, I was wondering, since some ten years have passed, and up to now no paperwork was done, other than the grant of probate, would there be tax implications for my mother, as life interest, and myself and siblings as remaindermen ?
 
Not unless the value of the inheritances ten years ago put your mother or your siblings over the inheritance tax-free threshold and CAT was due then.
 
the fact that my deceased grandmother owned the house and my mother is a life beneficiary, and myself and siblings are ultimate owners
Is that passing to a child or a grandchild. In terms of inheritance tax ?
 
samfarrell said:
the fact that my deceased grandmother owned the house and my mother is a life beneficiary, and myself and siblings are ultimate owners
Is that passing to a child or a grandchild. In terms of inheritance tax ?
Click to expand...

Your mother's position would depend on the exact wording in the will. She may have been granted a life interest in the income of the estate but the residue granted to you and your siblings, or granted the residue for her lifetime and thereafter to you and your siblings, or she may have been granted just a right of residence for her life.

Your original post mentioned that the estate included some land.

Does this land generate an income and are there any other income bearing assets?

Your mother's position will also affect the date from which you and your siblings as remaindermen, can be considered as absolute beneficiaries in the residue of the estate.

I think, at this stage, you should seek advice from a tax practitioner/solicitor.
 
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