Joint executor query

[Crysys]

Hi,

Can a joint executor stop the other executor from buying the deceased mother's house instead of selling on the open market?

 

Are there any legal processes that can be initiated to keep the house in the family?

 

There would be no conflict of interest as the agreed probate valuation can be paid thus negating any question of fraud.

 

Probate has already been proved

- the two executors are sisters and joint beneficiaries and one is just being difficult due to a strained relationship.

 

Many thanks.

[AndyOrch]

As long as there is no stipulation within the will and its sold for the valued asking price cant see any reason why not...goes to the estate.

 

Andy

[Crysys]

Thanks Andy.

 

The one sister has said that the other can't buy it.

 

As joint executors,

can she stop her sister from buying it?

Is there anything either can do to force the issue?

[AndyOrch]

Well they need to work together for starters otherwise it could become problematic.

 

There is no legal reason why it cant be purchased..I would advise getting 3 independent valuations and then a good conveyancer on her side.

 

May be of interest...

 

http://trustsdiscussionforum.co.uk/t/beneficiary-purchasing-property-from-estate/2247

[AndyOrch]

And the following....

 

https://www.co-oplegalservices.co.uk/media-centre/articles-jan-aug-2015/avoiding-conflicts-when-as-a-joint-executor/

[Crysys]

It looks like an executor cannot buy estate goods. They would have to renounce the executorship in advance of any financial actions on the bereavement. Pity.

[AndyOrch]

So renounce or reserve power and then buy as a beneficiary ? Although I still think you can as both executors are sole beneficiaries

[Crysys]

So renounce or reserve power and then buy as a beneficiary ? Although I still think you can as both executors are sole beneficiaries

 

The problem is that one sister is refusing to allow the other to buy. Even if my friend wasn't an executor, she still needs the others consent to buy the house. Unless there is something the law can do to help.

[AndyOrch]

And like wise she can stop her selling it as joint executor...so stalemate...commonsense should prevail

[Crysys]

Agreed. I think the bully will prevail! However, I've advised getting legal advice...but she is pretty browbeaten by her sister. I'm beginning to wish she hadn't phoned me! Thanks for your insight Andy.