Jointly Owned Property And Death Scotland
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FAQ
If you own your house with another person as a ?joint tenant? ? on your death the house will not pass under the terms of your will but will instead automatically be gifted to the surviving joint owner(s).
You automatically inherit anything you owned as 'joint tenants'. You may have to pay Inheritance Tax if the whole of the deceased's estate (all their money, property and possessions) is worth more than the Inheritance Tax threshold of £325,000 and the deceased's estate does not pay.
To deal with the deceased's estate in Scotland you need to obtain the equivalent of probate, known as 'Confirmation', before any money and other property belonging to the deceased can be released. It is often a bank, building society, or insurance company that will ask for this.
Scotland's Intestacy Rules If you die leaving a spouse or civil partner behind and your house is owned jointly, then it is worth noting that the house will automatically pass to the surviving spouse.
Joint owners A joint owner does not have to do anything to protect her/his property rights when her/his relationship breaks down. Where one joint owner wishes to sell the property but does not have the consent of the other joint owner then s/he can raise an action of division and sale.