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Understanding Letter of Confirmation (First Timer)

Hello,
Looking for any advice as a first time through this process.
Father died in early July and we left behind a small property in Scotland and a small balance of 80k. Will clearly defined myself and 1 sibling as executer and myself and 2 siblings as sole beneficiaries.
Due to the amount we have had to go through Probate, we have worked with a solicitor to ensure this is as smooth as possible. As of today the C1 will be submitted to the courts however I cannot get a definitive answer on exactly what happens next.

I understand you wait 6 months in case anything comes to light but after that do you have to sell the property before distributing the money in the bank as there are no immediate plans to sell due to family ties with the property?

Answers online seem conflicting.

Any help you can give would be very welcome.

Comments

  • You will need to keep enough back to cover the costs associated with the property but you can do an interim distribution with the cash before the property.

    Are all three of you in agreement that the property should not be sold. Holding on to property for sentimental reasons is rarely a good idea especially if you plan to rent it out.
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