Executor selling house below market value

Flugelhorn

Good post SevenOfNine.

I am selling a probate property at the moment, not into council tax territory yet but the heating is on, the gardener comes every 2 weeks, if I visit it is 240 mile round trip, kind neighbour calling in etc etc

also what can't be forgotten is the feelings of the very nearest rellies who may well be the executor (in the OPs case the executor is the son of the deceased) -they may be very keen to sell quickly and enable to complete the whole process and emotionally move on.

mark55man

elsa1982 wrote: »

Thanks for the advice everyone

Of course everyone is entitled to their opinion, sadly politeness and courtesy are getting rarer by the day.....

Yes, funnily enough so are gratitude and respect for others opinions and feelings.



I think you need to do more to help your unlce not sit in the back seat criticising him. Your first intervention was probably helpful - in grief he could have sold too cheaply. Your later expectations do show naivity

elsa1982

Thank you for your replies. With most of you siding on my uncle side please can I point out that he has taken advantage of my grandfathers money while he was suffering with Alzheimer’s transferring a large amount of money from my grandfathers savings account into his current account. We know this as my grandfather confided in my father telling him this. He said that the will indicated that me and my brother was having a quarter each of the house which we were fine about but when we bought the will off probate it indicated that the whole of my grandfathers estate was to be shared equally that included his savings etc but my uncle did not mention this and I understand he doesn’t have to show us the will but he refused to! So please try an understand why we do not trust him.

motorguy

elsa1982 wrote: »

Thank you for your replies. With most of you siding on my uncle side please can I point out that he has taken advantage of my grandfathers money while he was suffering with Alzheimer’s transferring a large amount of money from my grandfathers savings account into his current account. We know this as my grandfather confided in my father telling him this. He said that the will indicated that me and my brother was having a quarter each of the house which we were fine about but when we bought the will off probate it indicated that the whole of my grandfathers estate was to be shared equally that included his savings etc but my uncle did not mention this and I understand he doesn’t have to show us the will but he refused to! So please try an understand why we do not trust him.

If he hasnt followed your grandfathers will and also has transferred a large sum of money out of your grandfathers estate then you really should be seeking legal advice - those are both much bigger issues than a few thousand of the selling price on a house, surely?

LobsterMemory

Be that as it may, I still Don't think you have any rights to dictate how he manages his executoring.

He has a duty to do the best for the estate. You can dispute that he's not doing that but it would be difficult to argue that getting everything done and dusted as quickly as possible isn't the best way


EDIT: This refers to setting the price of the house. Obviously he also has a duty to distribute the estate according to the will and if he's not doing that, then you have rights to stop that from happening

Tigsteroonie

elsa1982 wrote: »

Thank you for your replies. With most of you siding on my uncle side please can I point out that he has taken advantage of my grandfathers money while he was suffering with Alzheimer’s transferring a large amount of money from my grandfathers savings account into his current account. We know this as my grandfather confided in my father telling him this. He said that the will indicated that me and my brother was having a quarter each of the house which we were fine about but when we bought the will off probate it indicated that the whole of my grandfathers estate was to be shared equally that included his savings etc but my uncle did not mention this and I understand he doesn’t have to show us the will but he refused to! So please try an understand why we do not trust him.

Please try and understand that we are not psychic, we knew nothing of your mis-trust of your uncle before this post.

BrassicWoman

Its possible to not trust him but still muck in to get a good house sale price. You didn't answer the question about how you are helping?

pphillips

I think it is important to explain to your uncle that he must act in the best interests of the beneficiaries and can be held personally liable for any losses that he causes to the estate by failing to act with due diligence. If necessary you could apply to the court for an order for his removal as an executor and ask the court to appoint someone more suitable.

SevenOfNine

Elsa, to be fair, not taking sides just commenting as estate executors on what you'd divulged so far.

Seems to me you have 3 choices. Employ a solicitor to fight your corner, write to Uncle & advise him of his legal obligations as executor, suck it up & move on.

Personally, if he is not adhering to what is said in the Will regarding asset distribution I'd pick option 1.

Not sure what you can do/prove about grandad telling dad, who told you, that Uncle had moved money from his account. Uncle may say his father gifted it....stalemate. Perhaps again option 1 & let solicitor ask more probing questions.

The house sale, my opinion for what it's worth, the property has had 1 offer with this agent while up at his suggested asking price. Ask Uncle to put it on the market with multiple agencies (the estate will have to bear the addition cost of that) & put it on the market for perhaps further 6 weeks & accept the best offer without fuss.

bouicca21

Testimony from someone with alzheimers is scarcely likely to be reliable. It might be true that your uncle pinched money, it might not. If you and your sibling are really entitled to a third of the estate rather than a quarter then you need legal advice. But be sure you have read and understood the will correctly.