Leaving my Co-Own for Over 55s home for a relative/friend to move into after I die

If your relative/friend wants to move into the property, your personal representative will need to request a buy out valuation and buy Co-Ownership’s share. We cannot transfer your lease into their name.

Example: An apartment which was purchased through Co-Own for Over 55s and has been valued at £155,000. It was originally purchased by the owner on a 50:50 spilt, which means that the amount your friend/relative would have to pay to buy Co-Ownership’s share out is £77,500 plus any outstanding rent.

Your estate is responsible for any costs associated with the purchase of the Co-Ownership share e.g. solicitor fees.

We recommend that when you purchase your new home with Co-Own for Over 55s you speak to your solicitor about updating your will to reflect your new circumstances.