Can someone explain "probate" to me please.

RAS

Does the executor have a copy of the contract between the deceased and the company who bought 90% of the house?

That seems to me to be pretty much essential.

The executor needs to know what if any responsibilities the estate has towards the company.

He also needs to know if the 90% is taken from the gross value of the house at death or from the value of the house at sale, or from the value of the estate after debts are paid.

If it looks as if the value of the estate after paying the debts and the other expenses is nil (and he should NOT have paid the paid the remaining £2000 out of his own pocket), then FIL might be best advised simply to renounce his executorship and leave the company to sort out the mess.

timmyt

sorry, what I was getting at is to ask OP, how are the deeds named? Is your FIL still registered as the owner with a 90% mortgage over it, or is it in joint names?

if the latter, probate is not needed, as legal title passes to the 90% owner who can sell and account for the 10% to the estate.

Richard_Webster

sorry, what I was getting at is to ask OP, how are the deeds named? Is your FIL still registered as the owner with a 90% mortgage over it, or is it in joint names?

if the latter, probate is not needed, as legal title passes to the 90% owner who can sell and account for the 10% to the estate.

Probate not needed to sell, but company might legitimately refuse to pay over remaining 10% without probate being produced to prove FIL entitled to money.

timmyt

they could take an indemnity, but 10% is indeed a lot of money to pay to the wrong person - though probate is no guarantee of the latest will and correct PRs, but traditonally i is accepted indeed

OP...have they said why probate is needed?