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Date Posted:
27-Aug-2013 15:38:21
Beneficiary - Life interest

• A life interest is when someone has an interest in a property which lasts for the rest of their lives. A spouse or civil partner can opt to request a lump sum as opposed to an interest in the property. To achieve this they must write to the Personal Representative within 12 months of the Grant being issued. A spouse or civil partner pursuing this course of action should seek legal advice.
• In the case of intestacy, the spouse of partner may require that the Personal Representative give the marital home over to them in accordance with their full or partial entitlement to the property. In order to do this they must write to the Personal Representative within 12 months of the Grant. If the home is worth more than the spouse of civil partner is owed they are required to pay the difference.
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