Help want to sell my share of inherited property

Yorkie1

rosyw wrote: »

Sorry, meant to say earlier how sorry I am for your loss.
You need to remember that as executors you and your brother MUST distribute your mum's estae in accordance with her will, so if it says you should all receive equal shares then that is what must happen, if the house needs to be sold in order do to that, and the two brothers that want to buy you out can't raise the required amount, then you have no choice in the matter. You have to do what it says in the will.

Except that beneficiaries can voluntarily waive their rights to part or all of an inheritance.

BobQ

The sensible thing to do if you are in a position to do so (ie both executors agree) is to sell the property and divide the proceeds equally. Its clear and has no loose ends. Also if you want the money now (eg to buy a house) you should have it.

If both executors agree then any other arrangement is at your convenience.

If you sympathise with the brothers who want to keep the house you need to agree a binding contract with them in which they pay you as much of your share as they reasonably can (ie the £110K each) and requires them repay the remainder within a defined period or to sell it at that time and repay you. You also need to make it part of the agreement that they are responsible for maintenance of the house at no cost to you and for keeping it insured. Your risk is that you may need to take legal action to get your money, your potential gain is that in 10 years time your small share could be worth more.