Deed of variation
Q:
If husband and wife hold a property in joint tenancy, can the survivor enter into a deed of arrangement giving part of the property to their children? Or does this only apply to a tenancy in common passing by will rather than survivorship?
DM Weston, London
A:
Leonie Kerswill replies:
You seem to appreciate that within two years of death it is possible, with the agreement of the various interested parties, to vary the terms of a will (or the intestacy provisions) or disclaim a benefit, and for this to take effect as if the deceased had made the variation.
The ability to do this might not appear to apply to property held as joint tenants because ownership passes, in this case, by survivorship rather than under the terms of any will.
However, as the variation provisions cover any dispositions made within two years of a person’s death – whether they arise under the will, intestacy law or otherwise – you will be pleased to learn that it may be possible for the survivor to enter into a deed of variation in respect of the property subject to the joint tenancy and to give part of it to their children.
There are currently no comments on this post.
Advertisement
More Q&A forum
Ask a question
Sector confusion
27 September 2008 [0 comments]Q:
Could you please advise me where you are now placing Jupiter Emerging European Opportunities in the monthly tables of Unit Trust Performance.
It seems to have disappeared!
Christopher Chalker,
Via e-mail
- Stopping the losses 13 September 2008 [0 comments]
- Repayment dilemma 6 September 2008 [0 comments]
- Suspended animation 22 August 2008 [0 comments]
- Disappearing trust 15 August 2008 [0 comments]
- The limitations of nominees 8 August 2008 [0 comments]
Recommendations
Investors' blog
European sector review
16 October 2008 [0 comments]Henk Potts warns investors that power utilities are not as defensive as they might appear to be
Market view
8 October 2008 [0 comments]Robert Tyerman stresses the need for investors to be selective as markets tread a tentative path towards recovery
Why are we seeing wider spreads in FX?
30 September 2008 [0 comments]Betsy Walters, global director of dbFX sales at Deutsche Bank, takes a closer look at how the recent volatility has affected foreign currency trading.
Events
Top 10 Unit Trusts, 1yr%
| NEPTUNE JAPAN OPP... | +80.3 | ||
| M&G INTERNATIONAL... | +51.0 | ||
| SCOT WID OVERSEAS... | +49.7 | ||
| STAN LIFE INV OVE... | +47.7 | ||
| THREADNEEDLE GLOB... | +45.1 | ||
| SWIP GLOBAL BOND ... | +44.0 | ||
| HENDERSON OVERSEA... | +42.8 | ||
| SG INTERNATIONAL ... | +40.8 | ||
| HENDERSON GLOBAL BOND | +39.3 | ||
| SCHRODER INTERNAT... | +38.3 | ||

