Probate sale and insurance

Our mother died suddenly last December and left her estate to her four children. We are in the unfortunate position where the family is split about how to proceed with her estate after probate comes to an end in October. Practically and financially the pressure is on to put the house on the market by the end of the summer, however not all of us feel that we are ready to do this and feel that by next spring we will be in a better place to deal with the sale. One of the main arguments against delaying the sale is that the solicitors have said that getting insurance on an unoccupied home, which is also grade 2 listed is virtually impossible to achieve. The other argument is that it would be costly taking on the home for a few extra months with extra bills etc, and legally complicated if one person were to pay all bills and then claim back costs after the sale. I would be grateful for any advice.
«1

Comments

  • getmore4less
    getmore4less Posts: 46,882
    Name Dropper First Anniversary First Post I've helped Parliament
    Forumite
    Have you got confimation/probate yet(the grant)
    ( is this in scotland or not?

    if the house is not sold or passed to the benificiaries then the Probate is no finished.

    Why is the house not on the market now?


    Delays just rack up costs and the risk the house deteriorates.

    If someone lives in it they should be responsible for the bills.

    Does council tax kick in in scotland?

    Unocupied insurance is not that hard to get might cost a bit and will have stipulations that will cost money like heating the place.

    My view is sell ASAP or someone moves in and treats it as their own place or buys it of the estate, if you can keep it occupied then that will likely be the cheapest/safest way to maintain the property.

    If the longer term plan is to sell and you have no one to occupy it sell it now.
  • Thanks very much for posting back.

    No we're not in Scotland. Probate has been granted but will not complete until October. We have solicitors as executors who will sell if we cannot agree between ourselves.
  • RAS
    RAS Posts: 32,539
    Name Dropper First Anniversary First Post
    Forumite
    Try Saga for insurance; the house was empty for two years before we sold. Although one of us went in every 3-4 weeks and changed the timers on the lighting etc and we got the existing garden help to maintain outside.
    The person who has not made a mistake, has made nothing
  • Thanks very much, I'll look into it.
  • getmore4less
    getmore4less Posts: 46,882
    Name Dropper First Anniversary First Post I've helped Parliament
    Forumite
    Thanks very much for posting back.

    No we're not in Scotland. Probate has been granted but will not complete until October. We have solicitors as executors who will sell if we cannot agree between ourselves.

    What is the hold up, if they have got the grant then they are in the collect the assets stage or is it some date the solicitors have plucked out of the air?

    The estate is not complete till the house is sorted

    Good chance council tax will kick in 6 months after the grant was issued.
  • I have insurance on an unoccupied, furnished listed property for about £600 (with provisos) - so the solicitors are talking nonsense. Phone around for quotes.

    Your house should be insured now - what has been the position since December? The tick-over costs for utilities isn't very much in reality, but obviously it all starts to whittle away at the final sum of money you will each receive once the house is sold, and the admin will be another bother for one of you.

    But I do understand that letting go can be hard after a loss.
  • TonyMMM
    TonyMMM Posts: 3,376
    Name Dropper First Post First Anniversary
    Forumite
    Probate doesn't "come to an end" - it is either granted or not.

    Sounds like a solicitor making excuses for stringing things out.
  • Hello all, I'm back.

    Thank you so much for taking the time to reply. It's very helpful.
    It is our solicitor's policy not to distribute any assets until 6 months after the grant of probate in case there are any claims on the estate. (My mother's estate is small!)

    The house is insured for the moment - covered by the solicitor - but this comes to an end in October, and the emphasis has been made by him that he is finding it very difficult to get further insurance.

    Another family member has been dealing with all the legalities, but I will now investigate further.

    Many thanks to you all.
  • rpc
    rpc Posts: 2,353 Forumite
    Thank you so much for taking the time to reply. It's very helpful.
    It is our solicitor's policy not to distribute any assets until 6 months after the grant of probate in case there are any claims on the estate. (My mother's estate is small!)

    Doesn't mean that you can't sell, possibly make an interim payment, then wait until you are sure before making a final payment.

    The timing of selling the house (if that is what the will stipulates) doesn't have to be related to the distribution of funds.

    Who is executor?
  • Mojisola
    Mojisola Posts: 35,551
    Name Dropper First Post First Anniversary
    Forumite
    The other argument is that it would be costly taking on the home for a few extra months with extra bills etc, and legally complicated if one person were to pay all bills and then claim back costs after the sale. I would be grateful for any advice.

    If the executor is going to keep control of the estate until the house is sold, you're going to run up a lot of unnecessary expenses.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards