Property left in will

tacpot12

Meg231 said:

I don't suppose anyone can explain this clause from the will for me please?
"Power to make any such appropriation as is authorised by section 41 of the administration of estates act 1925 but without being required to obtain any such consents as are referred to in that section (and even though one or more of my trustees may be beneficially interested in the appropriation)

This question has asked and answered on a seperate thread.

Keep_pedalling

Meg231 said:

Thank you, i want to buy the property myself and my dad wanted me to have it so putting it on the open market isn't really an option.

So why did his will not just leave it to you? You have to be careful here. Does his will specifically say that the house has to be split 3 ways or is it the entire estate?

Veteransaver

How much does the nephew think the house is worth? Any nearby sold prices of similar houses you can reference?
He does realise that he's only due 1/9th of the value doesn't he. So he's actually arguing over fairly small amounts of money if the valuation is only a few grand off.

Veteransaver

Its a bit odd that the 1/3 shares have been split between 2 nieces and 3 nephews too, rather than just split 2/3rds x 5 ways.
Is that right?

Meg231

Veteransaver said:

Its a bit odd that the 1/3 shares have been split between 2 nieces and 3 nephews too, rather than just split 2/3rds x 5 ways.
Is that right?

I list 2 sisters, the neices from on sister and the nephews from the other.

Meg231

Veteransaver said:

How much does the nephew think the house is worth? Any nearby sold prices of similar houses you can reference?
He does realise that he's only due 1/9th of the value doesn't he. So he's actually arguing over fairly small amounts of money if the valuation is only a few grand off.

He has been looking on zoopla so thinks I am ripping him off thousands, but the house needs a lot of work and I can't argue with 3 valuations, I am going to pay higher than the highest but he still wants more. He never even kept in touch with my dad so it's all very distressing, dad's funeral was only last week. 

Meg231

Veteransaver said:

How much does the nephew think the house is worth? Any nearby sold prices of similar houses you can reference?
He does realise that he's only due 1/9th of the value doesn't he. So he's actually arguing over fairly small amounts of money if the valuation is only a few grand off.

Yes, exactly, a couple of grand at most

Meg231

Keep_pedalling said:

Meg231 said:

Thank you, i want to buy the property myself and my dad wanted me to have it so putting it on the open market isn't really an option.

So why did his will not just leave it to you? You have to be careful here. Does his will specifically say that the house has to be split 3 ways or is it the entire estate?

Because he wanted to be fair, as do i, he wanted them to have what their mothers would have inherited as regards the house, everything else he left to me. It says I am to sell the and convert into money their shares

bobster2

Meg231 said:

Keep_pedalling said:

Meg231 said:

Thank you, i want to buy the property myself and my dad wanted me to have it so putting it on the open market isn't really an option.

So why did his will not just leave it to you? You have to be careful here. Does his will specifically say that the house has to be split 3 ways or is it the entire estate?

Because he wanted to be fair, as do i, he wanted them to have what their mothers would have inherited as regards the house, everything else he left to me. It says I am to sell the and convert into money their shares

Huh? It would be very unsual for a specifically say this - but if it does say this - why isn't this what you're doing?

Can you be specific...does the will say things like X should get 1/3rd of the value of the house, or X should get 1/3rd of the residual value of the estate (which includes the house).

Keep_pedalling

Meg231 said:

Keep_pedalling said:

Meg231 said:

Thank you, i want to buy the property myself and my dad wanted me to have it so putting it on the open market isn't really an option.

So why did his will not just leave it to you? You have to be careful here. Does his will specifically say that the house has to be split 3 ways or is it the entire estate?

Because he wanted to be fair, as do i, he wanted them to have what their mothers would have inherited as regards the house, everything else he left to me. It says I am to sell the and convert into money their shares

Ingrate that he may be, but he can make your life very difficult unless you do as the will instructs.