Making an application for a Grant
The generic term for a Grant is a ‘Grant of Representation’.
Often, a Grant may be required to administer the deceased’s estate. A Grant confirms the authority of the Executor or Administrator named on it. The recipient of the Grant can rely on it and knows that the Executor or Administrator has certain duties they must adhere to.
There are many types of a Grant of Representation, however, the main three types of Grant to consider are:
- Grant of Probate – A person has left a valid Will. The Executor is appointed in in the deceased’s Will.
- Grant of Letters of Administration – A person has either left an invalid Will or no Will at all. The Intestacy Rules set out who may apply.
- Grant of Letters of Administration with Will annexed – the person has left a valid Will, but someone other than the Executor is applying for the Grant. This can arise when an Executor has died before the person making the Will. The Personal Representative is usually someone who is entitled to the residue of the estate.
When might I need a Grant?
The law in England and Wales allows some specified assets to be transferred without the need for a Grant. Where an asset is worth more than £5,000, whoever is holding the asset on behalf of the deceased can insist on the production of a Grant before making payment or transferring the asset. Most banks and building societies have their own thresholds for making payment without the need for a Grant to be produced.
Generally, a Grant is required where the deceased’s estate includes land or property.
In some circumstances where the land or property is owned jointly, then a Grant may not be required for that particular asset. But a Grant may be needed for other assets in the estate.
Land and property can be held in England and Wales as joint tenants or tenants in common.
If land or property is held as joint tenants, the interest of the deceased passes by survivorship to the other owner or owners. This happens automatically. A Grant may however be required for other assets in the estate.
If the land or property is owned as tenants in common, the interest of the deceased passes under the terms of the deceased’s Will or the Rules of Intestacy. A Grant may be required in this instance.