Legal Tip 122: Death, Inheritance and Rents

Discussion in 'Legal Issues' started by Terry_w, 6th Apr, 2016.

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  1. Terry_w

    Terry_w Structuring Lawyer and Finance Broker - all states Business Member

    18th Jun, 2015

    Death, Inheritance and Rents

    After someone dies and leaves their property to someone there will be a long period before the property title transfers. If the property is a rental during this period rent money will be coming in. Who is entitled to this money?

    This will depend on how the will is drafted. If it is silent then generally the rent of a particular property will go to the beneficiary of that particular property under the will. This is the situation in NSW because of s144 of the Conveyancing Act 1919 (NSW) CONVEYANCING ACT 1919 - SECT 144 Rents and periodical payments

    Considering that the winding up of an estate can take around 12 months to 2 years and with rising rents and those with multiple properties this could be a relatively large sum of money and therefore be an important issue to consider.