Land/Property

Question 1

What happens if a will leaves “the property which at my death constitutes my main residence”?

Answer 1

the vagueness will revent ademption of a specific property- ie whatever property fills that description at time of death.

Question 2

Who bears IHT when the will is silent?

Answer 2

The residuary estate bears the IHT burden.

Question 3

what happens to a gift subject to a mortgage if the will is silent?

Answer 3

Section 35 of the Administration of Estates Act 1925.:
passes with the property, the property is liable for the moratge. any person(s) with interest in it are liable in porportion to their share.
- also applies to any gifts with a leain/ mortage eg car/ shares
eg jack gets 100% of property- liable for 100%
jack and jane gt 75/25%- liable 75-25%