Executor refusing reasonable offers

Worried840 · 30 May 2013 at 11:06AM

Hi

I am looking for some advice and hoping that someone may be able to help. My parents died a few years ago and after nearly 4 years their house was put on the market. It has now been on the market for just over a year and there has been little interest. The problem is that one of the executors (there are 2) is refusing offers that are reasonable and in line with other houses in the area, with a house a few doors away recently being sold. She has an unrealistic view on the value of the house and is refusing to sell. We have now declined 3 offers and I am in desperate need of the money as I was homeless at the beginning of the year because I could not afford a private let. Is there anything that can be done? She is not listening to the other executor and not including him in any dealings with the house and often going behind his back. I realise there is probably not much that can be done but I hoping that someone may be able to help.

Thank you!

getmore4less · 30 May 2013 at 11:28AM

Is anyone living in it? Is it costing money to the estate

If it is empty could you move in if homeless?

The benificiaries need to get together and formulate plan.
(is the executor a benificiary)

It may be that pointing out the executors could be liable for losses might trigger some progress.

Try putup or shut up say if they believe it is worth more buy it at the highest offer so far and sell it on themselves.

Check the will to see if they can act alone the other executor may be able to proceed a sale.

Worried840 · 30 May 2013 at 5:37PM

The house is currently empty. I had moved in for a few months towards the end of last year however due to a number of reasons I moved out. The heating wasnt working and the house was very cold as well as this it turned a family member was letting themselves in during the day and reading my post! The executor refusing to sell has told the second executor should he make any decisions without her she will take legal action against him. She made it clear from the beginning she did not want to sell the house so this may be a reason as to why she is reluctant.

Unfortunately it has caused a lot of ill feeling with my siblings and getting together has proved to be virtually impossible.

RAS · 30 May 2013 at 5:42PM

Ther executor who is being threatened needs to speak to the Probate Registry ands ask if there is anyway to remove the refusnik.

getmore4less · 30 May 2013 at 7:49PM

Is the problem executor a benificiary?

this may be usefull
http://www.stepjournal.org/journal_archive/2009/march_2009/tackling_troublesome_executors.aspx

Worried840 · 30 May 2013 at 8:48PM

Yes the problem executor is a beneficiary. Thank u for your replies much appreciated.

jackyann · 30 May 2013 at 9:59PM

I have found the Probate Office very helpful and would begin there.
If there is such disagreement, I would be very careful about discussions with the other beneficiaries, and keep notes.

One suggestion is that the beneficiary who wants to hold out could buy the others' share. This does focus the mind! Let's say there are 4 of you and a house that you could sell for £100k. Say 2 of you take your quarters, the other 2 pay over £25k to each of you - a total of £50k. If they manage to sell the house for £110k, good for them, if they only get £90k - their fault!
But you do need to get this drawn up properly by solicitors, which of course will cost you.

Worried840 · 30 May 2013 at 11:20PM

Thanks again ill get onto that tomorrow.

getmore4less · 31 May 2013 at 9:17AM

How are the bills for the house being paid?

council tax will kick in and some councils are getting strict on this(we know we had visits).

Empty house insurance will be needed this can get expensive.

how far apart are the offers and the amount this person is holding out for.

fluffymuffy · 31 May 2013 at 9:48AM

Our local council charges 150% council tax after a property has been empty for 2 years.

Worried840 · 4 June 2013 at 3:00PM

The first offer we recieved was £3,000 less than the minimum she would accept - I should add that the sale of the house is being split 5 ways! The bills are being paid with the remainder of the money in the account which is now only a couple of hundred, the council tax kicks in this month and the house insurance is due for renewal. I am being told I need to pay a fifth of the bills when the money runs out however I can barely afford my own bills.