Conflict of interest beneficiary/executor?

Daisytrix

I'm afraid (perhaps unsurprisingly) that i must ressurect this post.  First of all a quick update.  My husband did indeed sign the house over to his brother, no solicitor oversight, no nothing.  You probably won't be surprised to hear that the brother has yet to pay my husband.  The mortgage we are led to believe is approved and just waiting to transfer but we have hit a new snag...because my husband agreed to let his brother buy him out in january 2018 (no figure was agreed) the brother thinks he is entitled to pay the 2018 probate valuation.  At the time of the transfer zoopla was showing values for this house from £219k.  The brother after the fifth time of asking provided a bank valuation of 180k.  He thinks however he is entitled to pay a share of 165k even though the valuation at the time (and for probate was £175k.  My understanding is that my husband is entitled to full marker value and maybe interest since january since the brother has failed to pay him for a property he has already received?  Possibly considering small claims court asking for 25pc of the recent valuation plus interest?  Not surr why thr brother is acting this way.  He is already taking a larger share but he seems to think he is entitled to my husband's too!

On a separate note, the shares remain unsold and the brother only will buy my husband out at feb prices even though they have recovered a lot of ground.  As joint holders i have no clue how my husband can force him to sell if he doesn't want to.  The brother is literally holding them hostage.

Thanks in advance for any input.

Aliceinblunderland22

This sounds very worrying.... I'd be the same in your position. 
From my understanding (I'm not legally qualified)... By signing over with no solicitor input, your husband has put you both in a daft position.... In effect, letting the brother doing what he wants as an opening  gambit.... And then you having to be on backfoot and arguing over whatever self centred gambit he plays ... Which is grim...
Eg sign it over to me... I can't get a mortgage. 
Hang around until you get fed up of asking.... Then he dictates HOW MUCH he wants to pay.... 
I think it needs to be at reasonable value... He doesn't get to dictate what this (lower) value is... 

Your husband has singularly failed in his role as executor and so has put you in a rubbish position.... So it seems brothers DO behave like this... 

So it's TWO YEARS on and STILL no money..?? 
Surely as joint executor your husband can ask for his share as part of executor duties to wind the estate up? 

There are online property lawyers - I would defintialy pay for an hour of advice... I found it helpful some time ago on a property matter... 

Currently it seems that your brother in law is dragging his feet, rather majorly... For no other reason that he holds all the emotional power.... Don't let him! 

DavePower

Really interested, (for selfish reasons I admit)

how this situation resolves. My wife, potentially, will have a similar,  more complex situation (ie more in brothers/sisters) upon my father in-laws demise.

ames1010

Goodness me, the brother in law sounds a complete and utter nightmare. As you said, book yourself in with some free advice- get all your facts formulated and questions ready. Sorry you are both going through this. 

Daisytrix

DavePower said:

Really interested, (for selfish reasons I admit)

how this situation resolves. My wife, potentially, will have a similar,  more complex situation (ie more in brothers/sisters) upon my father in-laws demise.

Dave, i'm no expert in this as you can see but if you have any influence over the will writing see if you can get him to clearly state that the house must be sold and divided.  My own parents will clearly stated that.  I don't recall my FIL's being so clear.  It saves bad blood.  My husband and BIL always got on well but this inheritance has caused bad blood. 
Whilst going through my mother's papers i found a copy of the will of one of her friends.  Having been exec for my mom and seen how it has played out with my husband i won't be touching it with a barge pole esp. As the residue goes to a large charity which i undertand is a huge headache.

Daisytrix

Aliceinblunderland22 said:

This sounds very worrying.... I'd be the same in your position. 
From my understanding (I'm not legally qualified)... By signing over with no solicitor input, your husband has put you both in a daft position.... In effect, letting the brother doing what he wants as an opening  gambit.... And then you having to be on backfoot and arguing over whatever self centred gambit he plays ... Which is grim...
Eg sign it over to me... I can't get a mortgage. 
Hang around until you get fed up of asking.... Then he dictates HOW MUCH he wants to pay.... 
I think it needs to be at reasonable value... He doesn't get to dictate what this (lower) value is... 

Your husband has singularly failed in his role as executor and so has put you in a rubbish position.... So it seems brothers DO behave like this... 

So it's TWO YEARS on and STILL no money..?? 
Surely as joint executor your husband can ask for his share as part of executor duties to wind the estate up? 

There are online property lawyers - I would defintialy pay for an hour of advice... I found it helpful some time ago on a property matter... 

Currently it seems that your brother in law is dragging his feet, rather majorly... For no other reason that he holds all the emotional power.... Don't let him! 

Essentially yes.  No money.  The brother has his own inheritance at this point and my husband's and is steadfastly refusing to hand it over unless my husband takes about 3k less than he is entitled to.  Brother already getting 75pc.  Husband has offered to take 1k less but he wants the full 3k and will not budge.  Hilariously he is trying to claim that he is doing my husband a favour by not charging the estate the fees for him buying out my husband!  He also has stated that although no agent has been used the fees should be taken into consideration as if they were.  The man is an absolute self interested spiv.  It should have happened before but my husband has now finally agreed to a solicitor consultation.  Not sure if this afternoon is possible but i hope early next week.  I'll report back.

hb2

OP, I'm sorry you are in this position, it sounds utterly horrible. However, I do think you (ie you and your hubby) need to ask yourselves how much aggro you are prepared to go through for the sake of £3k - you could easily spend more than that on solicitors.

Daisytrix

hb2 said:

OP, I'm sorry you are in this position, it sounds utterly horrible. However, I do think you (ie you and your hubby) need to ask yourselves how much aggro you are prepared to go through for the sake of £3k - you could easily spend more than that on solicitors.

Yes in principle i agree.  A bird in the hand etc.  However reading a comment above accepting a lower offer could end with my husband paying cgt on the full amount.  I've just read that there is a potential 10pc (another 6-7k gone) fine for us over here in France as we have not notified the tax authorities because we did not know what my husband's share would be because the brother would never agree a price. With a punitive cgt on the full amount, 3k to the brother, 7k to the french my husband will end up with not very much all due to his brothers dishonest shenanigans.  Massively frustrating.

Owain_Moneysaver

Daisytrix said:

Whilst going through my mother's papers i found a copy of the will of one of her friends.  Having been exec for my mom and seen how it has played out with my husband i won't be touching it with a barge pole esp. As the residue goes to a large charity which i undertand is a huge headache.

That's easily sorted.
All the executors renounce; the charity can apply for letters of administration and sort the lot out. :-)

Daisytrix

Owain_Moneysaver said:

Daisytrix said:

Whilst going through my mother's papers i found a copy of the will of one of her friends.  Having been exec for my mom and seen how it has played out with my husband i won't be touching it with a barge pole esp. As the residue goes to a large charity which i undertand is a huge headache.

That's easily sorted.
All the executors renounce; the charity can apply for letters of administration and sort the lot out. :-)

And that is precisely what i'll be doing.  With 5 close family deaths in three years i've concluded life is way too short to go through the inevitable wranglings with a large charity especially since i was never asked.