{"id":42,"date":"2012-11-06T15:49:46","date_gmt":"2012-11-06T15:49:46","guid":{"rendered":"http:\/\/www.esmartproducts.co.uk\/wordpress\/?p=42"},"modified":"2012-11-06T15:49:46","modified_gmt":"2012-11-06T15:49:46","slug":"inheriting-a-property-2","status":"publish","type":"post","link":"https:\/\/www.suretyfp.com\/wordpress\/?p=42","title":{"rendered":"Inheriting a property"},"content":{"rendered":"<h3><strong>Could you be liable to pay Inheritance Tax?<!--more--><\/strong><\/h3>\n<p>If you owned property jointly as joint tenants with the deceased and you weren&#8217;t their spouse or registered civil partner, you&#8217;ll 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&#8217;t their spouse or registered civil partner, but inherited their share under the will, the deceased&#8217;s executor or personal representative must pay any Inheritance Tax or debts before distributing the estate among the beneficiaries.<\/p>\n<p>They&#8217;ll usually try to do this by using funds from other parts of the estate. However, if there&#8217;s 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&#8217;t 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>Could you be liable to pay Inheritance Tax?<\/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\/42"}],"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=42"}],"version-history":[{"count":0,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/42\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}