It has come to my attention over the last few months that some landlords have made a catastrophic mistake in structuring their portfolio which could mean their spouse inherits absolutely none of the equity in their estate.
We had 2 separate portfolio landlord partnerships explain how they had done conveyancing "off the shelf" in the past. All their properties were set up as joint tenancy/ownership rather than tenants in common.
This will mean when one of the 2 friends die, regardless of what was written in their will the other partner inherits the other half of the property - NOT their family!!
It also leaves the surviving investor with a large inheritance tax bill which could lead to the need to sell some of the portfolio.
If you want more advise on this either contact me
on 01483 537200
or come to our
FREE seminar on June 9th 2011
at The Mandolay Hotel,
36-40 London Rd,
Member since: 18th March 2011
Guildford based owner of BELVOIR! Lettings. Always upfront and honest and willing to give free advice, our service levels have been recognised by The Sunday Times as we won their Gold Award for Best Letting...