Tranferring a property not mentioned in a will

Keep_pedalling

nom_de_plume said:

Keep_pedalling said:

mr_Jw said:

I am the executor.
Originally they had a verbal agreement as 2 of them are living in the house and the house was to be signed over to them, then the third person was to be payed a third of the house,s value.
There is enough money from the estate to cover this agreement but there has since been a disagreement about the house value.  There is a also car which is only worth £4000.

mr_Jw said:

Hi. 
The will says:

"My executor shall hold the residue of my estate either to retain or sell it.
To pay the residue to (Names of the 3 children) and I direct that section 3 of the wills act shall not apply in this clause.

The standard provisions of the Society of Trust and Estate Practitioners (first edition) shall apply with the deletion of paragraph 5 Section 11 Trusts of Land and appointment of Trustees Act 1996 (Consultation with Beneficiaries)  shall not apply " 

Based on that then the solution seems reasonably straight forward. The beneficiaries don’t get to dictate to you,  the will gives you the power to act alone. You get a professional valuation for the property (the cost for this comes out of the estate), confirm with the two who want to keep the house that they still wish to do this, the third one gets 50% of the valuation in cash, and once all expenses are sorted the residual gets split 3 ways. The 3rd individual can’t really argue with a professional valuation. 

Should that not be 33.3%?

No. Say the house is worth £100k and the rest of the estate £80k to compensate the beneficiary who does not want to become an owner of the property they should get £50k from the other assets and the remaining assets split 3 ways (£10k each). Each beneficiary will then have received an inheritance of £60k each.  

mr_Jw

Hi.
I am the original poster, and the executor.
All 3 siblings have now agreed on a figure to be paid to the sibling who doesn't want a share of the house and all 3 now wish to sign the house over to the 2 brothers.

Can this be done by making an appointment at the local Land Registry or does a conveyancing solicitor have to approve the transfer?