Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Tue, 10 Sep 2024 11:28:02 GMT by Rowan Brown
Hi, I've searched to find information and no luck! My grandparents dies about 20 years ago, the will stipulated that my nans younger brother could live in the mortgage free proprty until he passed away or decided to move out. At that point the property must be sold and split 50/50 between my mum and uncle. The younger brother passed away mid Nov '23 and sadly my mum also passed Dec '23 - I am the executor and sole beneficiary so her share of the house passed to me. The house was valued and pending a sale at £230,000 the probate when my nan passed valued her whole estate inc the house at £200,000 So does the £30,000 gain get split 50/50 between me and my uncle? Does the fact that I've only just inherited my share make any difference? I have probate on my mums will at the current value. Any help greatly appreciated! (also currently trying to find a financial advisor to make sure everything is being done correctly!)
Posted Tue, 17 Sep 2024 08:53:18 GMT by HMRC Admin 18 Response
Hi,

A new valuation would need to be done based on the November 2023 date to then see if any gain arises.

Thank you.
 

You must be signed in to post in this forum.