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, Guildford for 5.30pm-8.15pm
Specialist Letting agency based in Guildford. Offering Landlords free advice on property sourcing, mortgages, wealth management, tenant placement and property management
