TSEM6115 | Legal background to trusts & estates: administrators give assent
From HM Revenue & Customs · Trusts, Settlements and Estates Manual
When administrators have
brought together the assets in their hands
paid the debts of the deceased
found out what is left
satisfied themselves about a beneficiary’s entitlement
they ‘assent’ to a beneficiary’s entitlement. Sometimes they assent to the residue being held in accordance with the rules of intestacy.
‘Assent’ establishes the beneficiary’s title. It confirms the debt owed to the beneficiary. The beneficiary has become the owner, even if not immediately taking possession.
If the asset is real property, personal representatives must give assent in writing. The assent then acts as a conveyance. Written assent is not essential if the asset is an equitable interest in land. However it is better if all assent is written. This establishes the date the beneficiary became the legal owner. An assent in favour of a residuary legatee may normally be inferred at the date of the ascertainment of residue (CG30900).