Postby maths » Wed Mar 31, 2021 3:11 pm
Any unused element of the NRB and the RNRB on the death of a spouse may be transferred to the other surviving spouse on their death. To do so requires appropriate claims to be lodged by the PRs of surviving spouse on their death. In the absence of lodging a claim no transfers are possible.
If the first spouse to die uses up his/her NRB and RNRB then, of course, there is nothing to transfer.
Where the spouses own the property as joint beneficial tenants, on the death of one of them their interest automatically passes to the surviving spouse. In this case the RNRB of the first spouse is unused and thus transferable. Any unused element of the NRB is again transferable.
Where the spouses own the property as beneficial tenants in common, on the death of one of them their interest does not automatically pass to the surviving spouse unless this is provided for in the deceased spouse's will. In this case the RNRB of the first spouse may or may not unused and thus potentially transferable. Any unused element of the NRB is again transferable.