Does Probate Relief Apply To Your Property?
If your property is purchased from the Executors or Personal Representatives of a deceased individual, it may be exempt from stamp duty land tax (SDLT).
Fill out the form to learn how stamp duty rebate works for uninhabitable properties.
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Request a call back for a chat to see if you are eligible for a stamp duty refund.
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CHECK YOUR ELIGIBILITY
What Conditions Qualifies My Property for Probate Relief?
Your property is qualified for Probate Relief as long as the following conditions are met:
- The acquisition is made in the course of acquiring dwellings not for investment purposes.
- The area of land acquired does not exceed the permitted area.
- The property trader does not intend to grant a lease or license of the dwelling or want to spend more than the permitted amount on refurbishing the home or let any of its directors or employees occupy the dwelling.
PROBATE PROPERTY
What Is A Probate Property?
Probate simply means managing the estate of a deceased person and carrying out their wishes as described in the will. These properties usually have different rules when it comes to stamp duty.
A probate property is a property that is sold after the proprietor or owner has passed away, and the executor of the estate is responsible for selling it. If you purchase such a property and you have paid more stamp duty than required, you may receive a rebate.
If you inherited the property of a deceased person, you do not have to pay stamp duty land tax, but it may be subject to inheritance tax depending on the estate’s value.
Find out whether you can get a stamp duty rebate on the probate property you bought and how a rebate can help you.
3 Simple Steps to Claim SDLT Refund For Probate Property
01
Do An Eligibility Check
Determine if your eligible
02
Documentation And Legal Guide
Collate documentation and submit claim
03
Refund Payout
Receive refund within 6-8 weeks
Frequently Asked Questions
You can apply for probate if you’re named as an executor in either the will or an update to it (known as a ‘codicil’). The person who died will normally have told you if you’re an executor. You’ll only inherit assets (for example, money or property) if you’re also named as a beneficiary in the will.
The probate process takes around a year on average, from the date of the person’s death to the estate being distributed. It may take less time, but even simple estates usually take a minimum of six months to complete probate.
Probate typically takes 9-12 months to settle an estate. However, it can sometimes take longer if, for example, there is a property to sell, complex Inheritance, Income or Capital Gains Tax affairs to resolve or there are complications regarding the personal representatives or beneficiaries of the estate.
When is probate not required? Generally, probate isn’t required if the estate is valued at less than £5,000, as most financial institutions will release funds lower than this. Also, if assets were held jointly, probate is often not required as these assets automatically pass to the surviving spouse or civil partner.
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