Transfer of a rental property

[Yiannis17]

Afternoon,

I have a situation where on the first death the terms of the will state that all property passes onto the surviving spouse. In this instance, the property is a buy to let. The surviving spouse now wants to transfer her share of bequeath property onto another family member. This has all happened in four month period and I don't think probate has yet to be applied.

Before contacting the land registry, to reflect the above, is it wise to show the two different transfers? From surviving spouse to the third party?

Thank you

[jerome.lane]

The surviving spouse could make a gamble on making a potentially exempt transfer or a deed of variation could be entered to vary the Will so asset goes directly to ultimate beneficiary. I think the former works better if spouse survives another 7 years and she should then retain a 100% uplift on her nil rate band on her death which could be more advantageous. Tax advice should be sought as to what is most appropriate.