Still waiting for full payment from executor 2 1/2 years later.

MikeA

Hi,

My partner and her brother were left sums of cash after their step-father's death over two and a half years ago. Her step-father named his daughter as the Executor.

Half of the sum they were bequeathed was paid within a few months and we were told the rest would be paid upon the sale of his property (house).

All this time later the property is still on the market whilst his other possessions have long been sold off. He was a collector of a variety of antiques so we have no idea what money came from the sale of those or how much was left to his daughter.

Looking around the forums and other sites I see mention of phrases relating to the payment of beneficiaries "Without undue delay" and asking to see the executor's accounts regarding to the estate but am not sure what would relate to my partners situation. Also in question is the 'fact' I've seen that interest is payable if more than 12 months has passed before payment. I understand that if the executor doesn't have the money then she can't give it to my partner and her brother but they have waited quite some time.

They aren't close in any way and last time the matter was raised a few months ago, "When the house is sold" was the reply.

Is it worth putting the situation in writing to the executor or approaching a solicitor? Any ideas would be appreciated.

Apologies for the wall of text,

Thanks

Mike

missbiggles1

Is the property being marketed properly and at a reasonable price? Also, is anybody living in it?

MikeA

The property is empty and found quite easily with the on-line portals (Rightmove etc). The price seems on par with similar properties in the area. I'm not sure if there has been any interest shown and hence not sure if anything has come up untoward on surveys/searches etc

Yorkshireman99

MikeA wrote: »

The property is empty and found quite easily with the on-line portals (Rightmove etc). The price seems on par with similar properties in the area. I'm not sure if there has been any interest shown and hence not sure if anything has come up untoward on surveys/searches etc

The executors need a strong written warning sent by letter. They are responsible for any losses. If the house has not sold after this time the only reasons are that it is overpriced or not properly marketed.

MikeA

Thanks for the advice, guess it's time to get a solicitors letter on the go.

Yorkshireman99

First send them a letter yourself stating that if the don't come up with some answers you will apply to have them removed as executors.. Don't dio=o this unless you are prepared to do so.

Sacredcat

Is the property in an area where there is demand? Can anything be done to improve sale prospects? Eg we were told to 'dress' the rooms', by an estate agent. In some places in the UK there is not a fast turnover of property. We know someone who has been on the market 6 months with no offers but several viewings.
You could go and view it, to see what's up, if the estate agent can show you round.

MikeA

We no longer live in the same town but the area was one of the nicer one's when we were living there. As far as I know the house is empty and would look fairly bare to anyone viewing it.

I should make it clear the amount we are talking about are relatively small compared to the price of the property (approx £10K v £200K) and bearing in mind the executor is also the main beneficiary, I would have expected my partner and her brother to have been paid before now from what's already been 'liquidated'.

Sacredcat

Maybe ask an estate agent for general advice about how long a time properties in that area tend to be on the market for before they get sold. E.g. In London last year, some types of properties were selling within 45 days. Now, things are a little different, and some that went on the market earlier in the year are still not sold.

Some places take longer to sell.

If the property looks empty and bare that is usually okay as it looks bigger, people think.

Once you have an idea of time scale, you may have more of an idea about whether the price is too high or whatever. I suppose you could say something to the executor then? I would tread lightly, personally.

If the property has been on the market for 2 and a half years this is a v long time!

If you have been left a specific legacy of £x then I believe interest may be payable. But I believe no interest is payable if you are a residuary beneficiary, eg. 10% of the estate.

konark

Why don't you ring the estate agent and go and view the property (posing as potential buyers). You may be able to find out by looking around or glean from the agent why it's stuck on the market.

MikeA

Thanks again to everyone who's come back with advice. Will make a few calls and let you know whats going on.