There are a lot of legal aspects to consider when a loved one (testator) dies. But what exactly happens to assets and property when the testator fails to leave a will behind? Or to publicly name the next of kin who has the right to receive everything? Well, it can mean that you inherit a Scottish castle. Yes, it’s ready for claiming by an unsuspecting descendent, as well as that descendent potentially having the legal right to a host of other assets, too.
The Government has a long list of assets in Scotland no one yet claims. It not only includes significant property but monetary assets to the value of £370,000 for what the property is worth, too. Any individual with the right surname may be able to claim on this valuable opportunity.
What You Need to Know About the Estates
There are a total of 425 empty Scottish estates simply waiting for claiming. The Government’s list of these empty estates lack rightful claims due to:
- the fact that their previous owners left no will, or;
- while failing to identify the next of kin eligible for the estate.
Under the legal system in Scotland, if an individual dies without leaving behind a clear will dictating how they want their property and assets to go out to benefactors, the assets refer to the care of the Crown. It is the duty of The Office of Queen’s and Lord Treasurer’s Remembrancer to then care for these assets.
Claiming Unwanted Estates
The good news is that the Succession Act of March 2016 has actually made the process of claiming these estates significantly easier. The Scottish Parliament eliminating the necessity to gain the form of insurance known as a Bond of Caution helps this.
Claiming these estates begins with learning whether you have the same surname as the testator/previous owner.
Checking Your Surname
While certain surnames are distinctly common, it is always worth checking. The list includes straightforward surnames, as well as obscure ones like Carlin, Hunniball, Malone-Philbane and Raube. The full list is available here.
If you successfully prove that your right to claim, a variety of assets will be available, including land, money, mansions and castles. Due to the fact that the testator leaves no will, you can claim their belongings, possessions and assets. Along with these empty Scottish estates, it’s also possible that there are more than 8,000 open estates in England and Wales, too.
Think that you deserve property or assets from a family member, however distant? Suspect they didn’t leave behind a will? Require any other legal advice? Don’t hesitate to contact our professional team at The Inheritance Experts today.