{"id":1395,"date":"2011-11-09T10:21:43","date_gmt":"2011-11-09T09:21:43","guid":{"rendered":"http:\/\/esmartproducts.co.uk\/?p=1395"},"modified":"2011-11-09T10:21:43","modified_gmt":"2011-11-09T09:21:43","slug":"inheriting-a-property","status":"publish","type":"post","link":"https:\/\/www.suretyfp.com\/wordpress\/?p=1395","title":{"rendered":"Inheriting a property"},"content":{"rendered":"<p>If you inherit a property from your spouse or civil partner, you\u2019re  an exempt beneficiary and you normally won\u2019t owe Inheritance Tax as long  as you\u2019re domiciled in the UK.<!--more--><\/p>\n<p>If you owned property jointly as joint tenants with the  deceased and you weren\u2019t their spouse or civil partner, you\u2019ll have to  pay any Inheritance Tax due on the property when you inherit it.<\/p>\n<p>If you owned property jointly as tenants in common with the  deceased and weren\u2019t their spouse or civil partner, but inherited their  share under the will, the deceased\u2019s executor or personal representative  must pay any Inheritance Tax or debts before distributing the estate  among the beneficiaries.<\/p>\n<p>They\u2019ll usually try to do this by using funds from other parts  of the estate. However, if there\u2019s a shortfall, you as the remaining  owner are responsible for that shortfall and HM Revenue &amp; Customs  (HMRC) and other creditors have the right to approach you.<\/p>\n<p>If there isn\u2019t enough money in the rest of the estate to pay  the outstanding tax or other debts, you may need to sell the property.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you inherit a property from your spouse or civil partner, you\u2019re an exempt beneficiary and you normally won\u2019t owe Inheritance Tax as long as you\u2019re domiciled in the UK.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/1395"}],"collection":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1395"}],"version-history":[{"count":0,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/1395\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}