'Estate' house valuation.

Yorkshireman99

Adelenot wrote: »

Hello 'Yorkshireman'. Your comment seemed the most succinct and reassuring.
So much so that I contacted my brother to tell him to read the replies. He did. Then he contacted his solicitor and relayed what he had read to her. However she seems quite adamant that if mum's husband doesn't agree then we are back to square one. She says that all four beneficiaries must agree and if not then the house has to go on the open market. Could she be wrong? Could we challenge this solicitor?

The executor is the one calling the shots. They can sell the house if they wish and distribute the proceeds according to the will. They have no legal obligation to consult the beneficiaries. If the value is up to date and by an RICS qualified valuer then the executor is on solid ground in selling it to your brother for that value.

Keep_pedalling

I am just wondering if the wording of the will could be an issue. I would have thought the sensible way to have done this was to state that each beneficiary was to receive a quarter of the proceeds of the sale of the house in which case the executor could just go ahead and sell it.

If on the other hand the wording of the will makes them joint owners, then perhaps all do have to agree on the way to proceed.

Yorkshireman99

Keep_pedalling wrote: »

I am just wondering if the wording of the will could be an issue. I would have thought the sensible way to have done this was to state that each beneficiary was to receive a quarter of the proceeds of the sale of the house in which case the executor could just go ahead and sell it.

If on the other hand the wording of the will makes them joint owners, then perhaps all do have to agree on the way to proceed.

If the will says they are to become joint owners then the executor simply has to convey it to them. Of course the four would have to sign the paperwork. In either case it is the executor's call not the beneficiaries.

getmore4less

Keep_pedalling wrote: »

I am just wondering if the wording of the will could be an issue. I would have thought the sensible way to have done this was to state that each beneficiary was to receive a quarter of the proceeds of the sale of the house in which case the executor could just go ahead and sell it.

If on the other hand the wording of the will makes them joint owners, then perhaps all do have to agree on the way to proceed.

very much so,

if the beneficial interest is convayed in the will say as a specific legacy then the beneficial owners should be consulted.
(eg if the will said I give my gold watch* to Jonny the exec cant sell the watch and give Jonny the cash)

if it is just held on broad discretionary trust basis more typical of the residual estate thne the execs have more control.

*(there are some cases where it may need to be sold but these have strict rules)