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Power Reserved reversal

edited 22 November at 6:14AM in Deaths, Funerals & Probate
7 replies 353 views
SevenOfNineSevenOfNine Forumite
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edited 22 November at 6:14AM in Deaths, Funerals & Probate
Deleted - doesn't look like there's 'official' action to undertake, the person can just step back in. Probably why it's not explained 'how' on-line, only that it can be done.
Seen it all, done it all, can't remember most of it.

Replies

  • Keep_pedallingKeep_pedalling Forumite
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    Your problem is going to be that it is down to them to do it, and in the circumstances you describe I would be willing to bet they want the money without the work.
  • edited 21 November at 2:40PM
    Rodders53Rodders53 Forumite
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    edited 21 November at 2:40PM
    Have you submitted the paperwork to HMRC and the Courts yet?   If so, it's too late for you to step down.
    (This thread is another example of where a NEW thread on a continuing saga is not the best idea.)
    You could Renounce your Executor role, but to answer your question:
    https://www.co-oplegalservices.co.uk/media-centre/articles-jan-march-2019/what-does-power-reserved-mean-in-probate/


  • xylophonexylophone Forumite
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    You are the exor - you have agreed a price within market expectation.
    Why not stop listening to the grumbles, get on with settling the estate, pay out the beneficiaries and have done with it?
  • badger09badger09 Forumite
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    Tell the insensitive greedy **** to either back off, and let you get on with it unhindered - or reverse their Reserved Powers decision & take over.
  • edited 21 November at 11:47PM
    FrogletinaFrogletina Forumite
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    edited 21 November at 11:47PM
    I hope my rant here helps me 'grow a pair' in a day or two. I'm fed up with feeling tearful.
    There is light at the end of the tunnel, but it doesn't seem like it at the time. I'm just coming to the end of dealing with two estates.  Due to Covid, the original buyer, who agreed to purchase the property in one of the estates in January, dropped out in August after a structural survey showed underpinning was needed. It has just sold to developers for thousands less. As executor, but not a beneficiary, It was me who did the visits to check the property, the council tax became payable and the insurance more than doubled. The estate agents kept contacting one of the beneficiaries and not me so I had to get tough. 

    Winter is coming, heating had to be on from October for insurance purposes and the stamp duty changes are ending. I'd say get the house sold now because who knows what things will be like in 6 months time, we didn't.

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  • edited 22 November at 6:50AM
    SevenOfNineSevenOfNine Forumite
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    edited 22 November at 6:50AM
    Thanks all for answering, deleted in case it's seen & I'm taking the advice. Xylophone's first line is a solid point that hadn't registered with me, estate agents assessed market price ranges matched & were used for HMRC form. Badger09, I DO need to 'man up', stop being upset & be determined instead.

    Frogletina, you have voiced some of my concerns. I'm old enough to recall when gazundering/gazumping was commonplace - I've currently got a VERY reliable buyer offer lined up through a good estate agent, insurance hike, council tax kicking in, weekly house checking, all things that matter.

    I'm too open, keeping people informed on progress. That stops today!
    Seen it all, done it all, can't remember most of it.
  • xylophonexylophone Forumite
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    I'm too open, keeping people informed on progress. That stops today!

    There is no need for you  continually  to update the beneficiaries.

    If they badger, you simply say that you are waiting for the Grant and that other than that, all necessary administration is up to date.

    Be scrupulously polite but firm.

    Remember, you are the executor and yours is the legal right to administer the estate.

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