Scenario.
The owners of an investment property are Jack Smith and John Smith.
They are brothers and John Smith is older. John's wife, Jane, has a caveat on the property to protect her rights to the property under the Property (relationships) Act.
John Smith passes away.
Without looking at the title (I've written to my solicitor with this question), would anyone care to venture opinions on the possible outcomes of this?
I can see two.
1) John Smith's share in the property is divided as per his will. Jane Smith can claim her equity.
2) The property fully moves to Jack Smith and Jane Smith gets nothing.
Obviously, there will be heated discussion within both families on what should be done.
The owners of an investment property are Jack Smith and John Smith.
They are brothers and John Smith is older. John's wife, Jane, has a caveat on the property to protect her rights to the property under the Property (relationships) Act.
John Smith passes away.
Without looking at the title (I've written to my solicitor with this question), would anyone care to venture opinions on the possible outcomes of this?
I can see two.
1) John Smith's share in the property is divided as per his will. Jane Smith can claim her equity.
2) The property fully moves to Jack Smith and Jane Smith gets nothing.
Obviously, there will be heated discussion within both families on what should be done.
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