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:
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
Market adjustments
12 November 2008 [0 comments]Robert Tyerman assesses how global markets will adjust to a new set of financial rules
The return of uncertainty
3 November 2008 [0 comments]Keiron Root suggests that those investors who relied too heavily on borrowing ignored the lessons of 35 years ago
The money doctor
24 October 2008 [0 comments]Andrew Merricks urges investors to take greater control of their pension investments
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 | ||

