Property Left To Siblings

DandelionPatrol

getmore4less wrote: »

Makes no difference as the only people that can take action are the benificiaries which are themselves.

I think the difference is that it gives OP grounds as beneficiary to sue the executors - and therefore as an executor, to resist the sister.

This is not 'just a sibling squabble' on which the law has no bearing - OP actually would have grounds to sue the sister

nom_de_plume

icuqt wrote: »

I'm not 100% sure but don't think the property in the area is shifting that well at the moment. It's in an area just north of Blackpool so the property prices are well below the national average. We've put the house up for sale with a fixed fee estate agent. All the people we've had so far have been chain free and most have been cash buyers.

All the talk of legal action etc. is a bit OTT at this stage. You want to maintain a relationship with your sister and that's not the way to go about it.
In your original post you say the property has only been on the market for a few days. To already have generated as much interest as you suggest I doubt you'll have any problem getting the asking price. Just give it a bit of time. Talk to the estate agent and see what they have to say.
Also bear in mind that, just because you've had a good offer, they may well pull out before exchange and then you're back to square one. The highest offer is not necessarily always the best one. I speak from experience as I pulled out from a probate purchase days before exchange.....

jackyann

DandelionPatrol wrote: »

I believe that as executor, your sister [and you] have responsibilities to maximize the estate - so you have a certain amount of leverage to get your sister either to accept the current offer or to make up the difference if the offer is rejected in favour of a lower offer.

Does anyone know if this is so? I know that it applies to Trusts.
I am currently on the fringes of a problem arising around a Trust selling a property, where the Trustees have an obligation to get the best price for a piece of land, whilst everyone in the community knows that the person who set it up would be appalled by the proposals put forward!

However, in an ordinary situation of executors, is that also the case? My executors know my values, and would not dream of "maximising" the profit on my house if it would upset the local community. However, if Dandelion is correct, then I should write something to that effect in my will.

getmore4less

Maximising an estate is not a legal requirement.

getmore4less

The thing here is the benificiaries and executors are 2 different legal entities and as such they need to be clear in which role they are acting.

I think in this case it is as a benificiary she wants the covenant where as he does not.

I very much doubt that dispute would gte far in court.

The executors should take a neutral stance as I don't think in that capacity a covenent would be in the best interest of the benificiaries.

Not that that helps as they are siblings and one of them wants to try and avoid a family breakdown.

troubleinparadise

whitewing wrote: »

Perhaps it is less the nursery and more the grief/anger of letting go of the house/your parents.

I think you should gently persist with the sale.

I'm with Whitewing's thinking here. I've not long been through a similar situation with my sibling, and there's no doubt that emotions do get in the way of pragmatic thinking, especially as in this case it is very soon after the loss of both parents.

I'd just suggest sitting down and talking calmly about what the two of you are hoping to achieve price-wise, and therefore what can realistically be asked of potential buyers, both on selling price and restrictions as to use of the property.

That the one sister's property is so close to the parents house may well possibly always be an issue for her - so many memories etc. It can be very difficult to let go of the way things used to be.

Having lived close to a primary school I always enjoyed hearing the noise of the children at playtime and so on (not always the parking issues, mind you!), as its such a happy sound, so I can't imagine that the noise from a nursery would be particularly disturbing or disruptive to everyday living in comparison to some other possible business activities.

TBagpuss

has your sister explained whyshe doesn't want the house to be converted to a nursery? In particular, is it that she is worred up noise etc, or that she doesn't like the idea of your parents old home becoming a business?

If she is worried about the impact of a nursery then it might be worth looking into other options - for instance, could she buy a strip of the garden to allow her to put up a fence and some bushes to reduce noise impact without having to lose any of her own garden, for instance,or could the estate take advice about putting in covenants requiring that the nursery do so?

If her issue s more about this being your parents' home, it may help to acknowledge this.

Out of interest - was this her (or your) home growing up? If your sister stayed very close and you didn't, she may still see the house much more as her home, and be struggling with the idea of it changing - how would she fee if it were sold as a home,and the new owners then made extensive changes?

It may be that discussing this with her, making it clear that you are trying to understand her viewpoint, rather than convince her to change her mind will allow her to be clearer about her feelings and why specifically she wants the restriction.

If the issue is primarily about her quality of life and not wanting the noise, then I think it would be reasonable to offer the option of her buying a strip of the garden to create a buffer zone, or agreeing to market only as a home but on the understanding that the difference in price comes out of her share.

icuqt

It's all about her quality of life and the noise she feels she'd have to endure if the nursery were to purchase the property. At the end of the garden there are some 20+ foot trees and the rear garden is approx 20 metres long so I'd imagine very little noise would get through.
I spoke to the potential purchasers and they told me they'd only operate from 8:30am until 5pm Mon-Fri. As it's on a completely different street to my sister's property then even the vehicles dropping off and picking up wouldn't affect her. The nursery would look after approximately 30 children with about 15 of them being kept in their proposed baby unit on the first floor. They said the other children would be up to the age of about 4 and would only be outside when taking part in organised activities. To me they sound like better than the neighbours I have !!!
I don't believe she is that attached to the property as she only really lived there for about 7 years until she left when she got married. She then moved away for about 15 years before purchasing the house behind my parents approximately 15 years ago.

DandelionPatrol

getmore4less wrote: »

Maximising an estate is not a legal requirement.

Are you sure there is no common law duty?

whitewing

I would find it very unusual that a nursery is not open until at least 6pm.