Inheritance Buyout

macman

mr_mr_mr said:

SDLT_Geek said:

You need to think about stamp duty land tax on the £200,000 you pay.

It will be my only home so will not be subject to stamp duty.

macman said:

Depends on the will. Does it say 'I leave my house to my two sons in 50% shares' (in which case, the solicitor who drafted it was incompetent)? Or, much more likely, does it say 'I leave my estate to my two sons in 50% shares'?
..

It says estate 50% shares to me and my brother the house is not directly mentioned.

Thanks everyone for your input. I think as AdrianC did say that I was over thinking it as it is a house and thinking there must be more to it.

Fine, so you are not 'buying out' your brother at all. You are buying the house from the estate. You pay the estate for it, then your brother eventually receives an additional £200k when the assets are distributed.
You don't need his permission, as you are the sole executor and, as long as you sell the property to yourself at full market value, the you will have discharged your duties lawfully as executor.