Is there a legal term for this process of renouncing their share or simply 'renouncing their share'? The only reference I could find in the Succession Act to renouncing was the right of a spouse to renounce certain rights. I seen in previous threads references to 'Deeds of Family Arrangements' or something like that.
So, my plan is:
1. Make a personal application for Probate;
2. Get a solicitor to write up the necessary paperwork for the children to renounce their share to my fathers estate;
3. Start the process to transfer the house to my mother (preferably with the same solicitor).
Does this sound like a plan? Any thoughts anybody?
My siblings and I (100% agreement) want my mother to get everything and want her to get the house into her sole name so that she can sell it if she so decides. We don't want our one-third share.
Is it not the case that the children must take their one-third share? I've never heard of renouncing your rights to inheritance.
... think you are correct it is a deed of family arrangement.
Or 'Deed of Variation' I have seen it referred to as well. Maybe either terms are only used when when there is will though?
Your mother is the next entitled to extract the Grant of Administration rather than any of her children however she can nominate a child to extract the grant with her.
Each child can simply sign a deed disclaiming their rights to a share of the estate. You should not disclaim in favour of anyone specifically, just disclaim generally.
Once the grant issues the administrator uses a Deed of Assent to vest the property in the name of your mother. (technically your mother will vest the property in herself)
Each of the children have to formally renounce their share. It is a relatively straightforward and common procedure and most solicitors should be able to do it for you for a reasonable sum.
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