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Valuation of life interest in property


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I'm fairly new to the forum, and am trying to find out how to value the remainder of a life interest in property and would be grateful for any help.

 

This is the situation:

 

A property owner accepted an amount of money from a married couple (both retired) in exchange for a permanent licence to occupy (accommodation for life / life interest) in an agreed part of the property. After ten years of living at the property, they have announced that they are divorcing. One of them wants to emigrate and is asking for a lump sum in return for him giving up his life interest in the property. His wife wishes to remain living at the property as agreed.

 

I've looked at The Intestate Succession (Interest and Capitalisation) (Amendment) Order 2008: http://www.legislation.gov.uk/uksi/2008/3162/pdfs/uksi_20083162_en.pdf

but have been led to understand those tables are only for calculating cases of intestacy.

 

Does anybody have an idea how to calculate the remaining capital value of a persons life interest in property, given the details above?

 

Thanks in advance.

Edited by goneforalongwalk
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