How to advise someone on walking away from willed property

[McD1978]

Hi All,

Having had issues regarding a will myself previously, a good friend now finds themselves in a similar position and has asked for advice. A house has been willed to two siblings and after all probate, paperwork etc etc having been done and dusted both parties have fallen out. My friend is in the lucky position where they aren't stuck for money and are prepared to walk away and sign their half of the property over to the other sibling just to be rid of the hassle and be done with the relationship for good.
It now seems that the other sibling may not accept the property in full, so my friend was asking if her share of the property can simply be signed over to a charity? I thought it was a great idea but couldn't confirm if this can actually be done? Has anyone any insights?

 

[Brendan Burgess]

Your friend can disclaim his interest in the estate, and then it reverts to the estate.

He can't simply assign it to someone else.

They can accept the property as per the will and then gift it to the charity. Most charities are tax exempt, so they should pay nothing other than 1% of the value in stamp duty.

Alternatively, they can sell the property and gift it to the charity.



Brendan

 

[McD1978]

Thanks for the reply Brendan.
Just to clarify, with probate already completed and all solicitors fees paid, you say the interest in the estate can now simply be disclaimed?
Any cash that has already been distributed would then also have to be disclaimed would it not? Approx €20k has already gone to both parties.

 

[mathepac]

...
Just to clarify, with probate already completed and all solicitors fees paid, you say the interest in the estate can now simply be disclaimed?
...

No Brendan didn't suggest that. Either your friend disclaims before distribution of the assets or accepts their share. Your friend now own 50% of a house AFAIK.