Will - estate or effects values - include property and shares or not ??

[melba_schmelba]

I am confused as to whether the values of the personal estate or effects given on wills  included the value of property, houses, farms, land etc., as well as any share the person had in British companies? I know in old inventories from the 17th-18th centuries, only the items inside the house were inventoried and valued, not the actual farmhouse and lands.

[Skoosh]

In Scotland the moveable property appeared in the will/inventory, the farm etc' went to the eldest son or heir!

Skoosh.

[melba_schmelba]

Thanks Skoosh. This archived guide for PCC wills on the national archives says inventories, which were mandatory up to 1782 would contain

http://webarchive.nationalarchives.gov.uk/20110203013123/http://www.nationalarchives.gov.uk/records/research-guides/wills-and-probate-records.htm

"leases, chattels, debts owed and owing, cash, crops, stocks and slaves."

but not real estate (land) and usually not freeholds unless relevant to settling of deceased debts. I have to say I can't remember seeing leaseholds (or copyholds) in any inventories I have seen. I am not sure whether this rule continued up to modern times, i.e. people's freeholds are usually excluded from the value of their estates, or not?

[philipsearching]

.... I have to say I can't remember seeing leaseholds (or copyholds) in any inventories I have seen.

I can't say if it was standard practice across the UK, but in Cornwall leases were not always for fixed terms (e.g. 99 years) and would not have been transferrable. When leases were granted to a person or persons they were automatically terminated on the death of the last surviving lessee.