13 Jul Problem Question Amy wishes to make some lifetime
Problem Question Amy wishes to make some lifetime dispositions of her property, as she is getting on in years and wants her relatives to benefit now, rather than after her death.She asks her nephew Bernard to call round to her home at 1 Sheffield Road. When Bernard arrives, Amy tells him that she intends to transfer into his name Amy’s 600 shares in Bartolome Ltd., a private company.Amy also hands over to Bernard the receipt and insurance valuation for her grand piano, which Bernard has long admired. Amy’s arthritis now prevents her from playing the piano herself.Amy then tells Bernard that she wants to give him her holiday cottage in the Peak District. Amy calls in two neighbours to witness the signatures of Amy and Bernard on a deed conveying the freehold of the cottage to Bernard. Amy then gives Bernard the deed of conveyance so he can register the transfer.Amy tells Bernard that from now on he should treat the grand piano and the holiday cottage as his own.That evening, Amy executes the appropriate stock transfer form to put the Bartolome Ltd shares into Bernard’s name.A week later, before taking any further action to transfer the shares, Amy dies in an accident. Bernard has not yet collected the grand piano from 1 Sheffield Road, and his solicitor has not yet registered the title to the holiday cottage in Bernard’s name.Consider whether title to the shares, the grand piano and the holiday cottage has passed to Bernard.
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