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Executors selling mums house
abledj
Posts: 6 Forumite
quick question hopefully.
My mum died last yr leaving the 3 children (I'm one of them) as executors.
The house is on the market and have had a good offer made on it.
2 of us want to sell - we have debts still to pay for my mum (mortgage, funeral, council tax, utility bills etc) and none of us work so cant pay
The other is refusing to sell.
What options do we have? If any..? Can 2 (as majority) authorise the sale? Or are we just gonna have to go on like this until all agree?
thanks in advance
My mum died last yr leaving the 3 children (I'm one of them) as executors.
The house is on the market and have had a good offer made on it.
2 of us want to sell - we have debts still to pay for my mum (mortgage, funeral, council tax, utility bills etc) and none of us work so cant pay
The other is refusing to sell.
What options do we have? If any..? Can 2 (as majority) authorise the sale? Or are we just gonna have to go on like this until all agree?
thanks in advance
0
Comments
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Stating the obvious, but why don't you ask a solicitor? Either one specialising in property law, or whichever solicitor dealt with your late mothers estate/will. I wouldn't have thought that they could stop the sale in this situation.
What are etheir reasons? They may well have all your interests at heart, ie rent the property out for 3-5 years whilst the market recovers. That way you all get a small monthly income in the meantime (which should help with your debt repayments), and a greater capital sum when you do eventually sell.
Olias0 -
Selling at the bottom of the market makes no sense at all. Better to rent it for 5 years and make substantially more.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Is it an option for the 3rd person to buy the other two out with a BTL mortgage.0
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I don't know whether you can force a sale on the reluctant executor but I do think it would be legally "messy", time consuming and costly to do so. When my late MILs house was recently sold the contract required the signatures of BOTH her executors to be valid, fortunately my wife and her brother agreed the sale price was fair in the current market.
You're siblings for goodness sake, talk to each other, I don't think your mum would have wanted the 3 of you to be falling out (and that is certainly what will happen if you can't agree and the issue is forced!) about her house. What is the property on the market for and what is the offer you've had? Why does one of you object? Are alternatives like renting or one buying out the others viable?0
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