Tenants in Common - Executors dealing with sale of property.

Zuffy

A and Mrs B owned their house as Tenants in Common(50% share each) with a Form A Restriction registered against the Title. They had Wills which left the survivor of them with a life interest in the half share in the house of the first of them to die. Mr A died leaving Mrs B with a life interest in his half of the house. A Grant of Probate was completed in relation to Mr A’s estate.  

Mrs B  died a year later and a Grant of Probate was completed in relation to her estate.This was done by her  Executor( who is a Solicitor) . The house is being sold and her Executor is also dealing with the conveyancing.

The Estate agents dealing with the sale of the property have only kept the Solicitor/Executor acting for Mrs B estate updated.

Mr A’s Executor recently attended the Estate agents office to try and find out what was happening with the sale of the property.He was informed that it was nearing completion.This information had not been voluntarily disclosed to Mr A’s Executor either by the Estate Agent or Solicitor. Can advice be given on the following-

1. When the time comes to complete the sale of the property would the Executor for Mr A be required to sign any documents to confirm the sale of Mr A’s share in the property, or can the sale be completed without the consent/involvement of Mr A’s executor?

2. Would the Solicitor acting for the purchasers of the property be required to pay 50% of the proceeds of the sale of to the respective estates, or would it be normal practice for the monies to be paid directly to Mrs B’s Executor as he is also dealing with the conveyancing?

Thank you in advance for your advice .

Keep_pedalling

Mr A’s estate is already wound up, so unless his executor is a trustee of the trust they don’t have anything to do with the winding up of Mrs B’s estate.

Just to clarify are we talking about a married couple, because calling them Mr A and Mrs B suggests they are not. 

Zuffy

Sorry Keep _Pedalling if the letters caused confusion .Yes they were a married couple who had children from their previous marriages. Both left their estates to their respective children . 

I just wanted clarity concerning the sale of their property and whether the buyers solicitor would be responsible for ensuring that the proceeds of the sale were paid to Mr A and Mrs B’s estate separately at the time of completion as they held their property as tenants in common.  Each owning a 50% share in the property.
If all the monies for the sale of the property were paid to Mrs B’s executor, would he be responsible for ensuring Mr A’s estate/beneficaries received their share.

RAS

So who are the trustees of Mr A estate? 

SkyeD

When our parents' house was sold (tenants in common 50/50), both executors had to sign the legal agreement to sell the house.  The solicitor split the proceeds to both executors as we requested - we paid two bank transfer fees.

Zuffy

Thank you SkyD .Do you think Mr A’s executor should contact the buyers solicitor and request the sale proceeds are paid into the respective estates. 

Zuffy

Hi Ras . The trustee is the son in law who is not a beneficiary.

RAS

Was he also an executor?

Zuffy

Hi Ras
Yes he was also an executor. My main concern is the sale of the house as both the Estate  agent and the executor for Mrs B’s estate have not been forthcoming in providing information or updates regarding the progress of the sale . It would be nice  to know that when the time comes to exchange contracts and complete the sale that Mr A’s executor will be required to sign paperwork before the sale can be completed. 

RAS

It costs £3 to download the deeds from the Land Registry to ensure the restriction is listed.

It might also be a good idea for SIL to remind the estate agents that the property is held as tenants in common and ask which lawyers are handling the estate. 

Zuffy

Hi Ras
Thank you for the advice. The estate agents have been informed that the property is held as tenants in common but have still been reluctant to share information about the progress of the sale .I’m not sure they will provide the details of the solicitor’s dealing with the sale but we’ll make the request and see what happens.