Any property that you own as tenants in common or as a sole proprietor is included in your residuary estate. Any property that you own as a joint tenant automatically passes to the other joint tenant (this is dealt with outside of your will).
We don't offer the option to leave property as a specific gift (separate to the rest of your estate), as there can be additional consequences which require specialist advice.
Types of property ownership
Sole Owner - you alone own 100% of the property, which forms part of your residuary estate.
Joint Owner (Tenants in Common) - you each own a percentage of the property. Your share forms part of your residuary estate.
Joint Owner (Joint Tenants) - you have equal rights to the whole property, so it automatically goes to the other person when you die. This means you have no control over the property it in your will.
If you're not sure how you own your property, you can find out on the Land Registry's website for a small fee. If you'd like to change the way you own your property, just follow the instructions on GOV.UK's website.
What happens to my mortgage when I die?
Unfortunately when you die your mortgage doesn't go with you. Anyone inheriting a property with a mortgage automatically inherits the debt as well.
If your beneficiaries would like to take on the mortgage themselves, they'll have to run through a mortgage assessment to check they can afford to take on the payments.
If a new mortgage application can't be approved, or if your beneficiaries don't want to keep up the payments, then the property can be sold and proceeds can be used to repay the debt.
What happens to my joint mortgage when I die?
If you have a joint mortgage, often with a partner, then when they pass away you are not automatically entitled to take on the mortgage and property as the sole owner.
You'll need to apply for, and be able to keep up the payments by yourself, which can sometimes be difficult if both partners earned a salary. If you are unable to get a new mortgage you may have to sell your property.
Do I need to give details of my property anywhere in the will?
No, there's no need to give details of your property anywhere in the will.