A question about : Sale of property
MIL passed away at christmas and most of the estate has been divided as per her wishes.
Question is regarding the house
Her will stated that it was sold as soon as possible and the proceeds divided amongst all five children equally
Two of the children were named executors
Now they have split from the other three children saying that all decisions are down to them and nothing to do with the other three ( big rift happening 
) and have yet not sold the house. The rest of the family are aware there's a good offer on the property that that are all willing to accept but the executers are refusing to accept the offer
Do the remaining three benificeries have any say in the matter as the offer price is only Ј5k less then valuation and its costing a lot more in maintenance and in these times in NI = its a fair price
Best answers:
- No, you don't get a say because you aren't executors, but...
Have the running/maint costs been added up properly - it's all very well saying it's costing more but writing it out long hand demonstrates it. And has the discrepancy between shortfall and costs been pointed out to the executors?
The executors have a duty to maximise the estate but they, surely, are the ones dealing with the estate agent - are you sure there isn't another potential offer in the pipeline?
If all else fails tell them that if they don't accept the offer you'll expect them to make good any unnecessary shortfall (i.e. due to extended running costs) out of their personal share. - daska is right - if the executors refuse an offer on the house and it then incurrs costs and the eventual sale is for substantially lower than the offer - then the executors become liable (in essence) for the shortfall. I would point this out to them and tell them that the beneficiaries would not look kindly on this happening.
The job of the executors is to get the best value from the estate - and if they are beneficiaries themselves then they usually do that. I wonder why this hasnt happened? does an executor have a relative who is waiting for the price to go down on the property? - The executors are just two of the five siblings. To be honest one of them is none too stable and feels she's the only one who feels the lose of mum and has just taken the executors role to the extreme,not even discussing with the rest of the siblings what's occurring or what they are at. Mum left the house to all five siblings to be shared equally when sold, and the will sates clearly this is to be done ASAP.
This is NI. House prices are still in free fall with the bottom of the market not yet hit. The house was valued for probate at 100k and there was one offer of 95k against it within the month- and no serious viewers since ( now empty 11 months)
Hands oh heart the three siblings who are not executors are not strapped for money or are waiting on it. One of the executors was homeless and renting after needing to sell all their assets after the banking crash wiped them out. All three siblings are asking is do they not have any say when the house was clearly left to be shared equally? As I said before, there is now a family rift and the executors are refusing calls and insist on any queries to be via solicitors which I can only see making this rift unmenadble - I am not making excuses for the executors, but I am just speculating that where executors are known to be selling a property in this market, an offer may not be all it seems. Based on my own experience contracts may be signed, certificates etc obtained, all purchaser's questions answered, then the purchaser sits back and does nothing for 4 weeks and puts in a lower offer. This is accepted, then purchaser does nothing for 4 weeks and puts in another lower offer etc etc. Sooner or later you have to break off due to bad faith.
- Whilst it does depend on the wording of the will, there may be a sentence which gives the executors a power of decision about certain matters which overrides arguments (say when there is to be a distribution of contents but where it requires agreement between beneficiaries rather than named items).
It may be that your Executors have that power, and as such have decided not to discuss this with the three non-executor beneficiaries.
However, the Executor is charged with achieving the best prices or values for the estate, and to allow a sale to fall through, or incur further charges which deplete the estate, then they would be failing in their duties to the testator, and the beneficiaries.
An Executor can be removed from their position by the High Court if they are proving to be unsuitable because they are wasting or mismanaging the estate. Obviously it is not a step to be taken lightly, nor will it be easy to pursue, but it is possible.
Families and money!!! - I understand your frustration suki1964 but in my opinion 9 months is not long to sell a house and sort out probate.
- I am not trying to unduly worry you but I do think you should be made aware of the follwing issues:
Is this a DIY probate or being dealt with by a solicitors office?
When the property has been sold where will the funds be deposited. Will they be deposited into an account belonging to the executors? If so, while they are leagally obliged to pay all beneficiaries their share, there have been cases where this has not happened.
I do think your MIL was badly advised. Either all five should have been named as executors or the property should have been transfered into the beneficiaries names, they would then be responsible for its sale jointly.
In this situation you are largely dependant on the honesty of the executors to be faithful in the distribution of funds. Many will come on here and say the law protects the beneficiaries and therefore there is nothing to worry about. However, to enforce the law is a costly process and there are ways around making good any payment enforced by the courts.
Do all the siblings get on with the executors and are there any reasons for any of the executors to feel they are more worthy of the money than the others? - After a fast google found this from a UK website. And it's quite detailed.
What if the named Exectutor is not performing his duties properly.
A beneficiary or next of kin may question the Executor's actions. If in doubt, the first step is always to write to the Executor and ask him to render an account of the administration of the Estate. If the beneficiary or next of kin is still not satisfied by the Executors' explanation, then he or she may apply to Court to remove and substitute the Executor.
An attempt by the beneficiaries to remove the Executor is not an easy application. The beneficiaries must prove serious misbehaviour before the Court will even consider forcing an Executor to step down. In general, the Courts will only remove an Executor if the beneficiaries can show the following: - The Executor has become disqualified since the Deceased appointed him;
- The Executor is incapable of performing his duties;
- The Executor is unsuitable for the position.
- Disqualification
An Executor will only become disqualified if he has been convicted of a crime and sent to jail. - Incapable of performing duties
An Executor will be seen as being incapable of performing his duties if the beneficiaries can prove that the Executor has a physical and mental disability, whether the disability is permanent or temporary, which is preventing the Executor from performing his duties. - Unsuitability
An Executor becomes unsuitable to perform his duties if there is either a conflict of interest or some form of serious misconduct. As regards misconduct, this must be very serious in nature, leading to the Estate suffering as a result of the misconduct. The Court is likely to consider the following examples of misconduct: - Stealing from the Estate
- Failure to keep accounting records
- Failure to obey a Court Order
- Wasting or mismanaging the Estate
- A certified sealed copy of the Grant of Probate or Letters of Administration;
- A Witness Statement setting out the reasons why the removal or substitution of the Executor is sought (referring to his disqualification, incapacity or unsuitability as per above), particulars of the Deceased's assets and liabilities, those who are in possession of documents relating to the Estate, names of beneficiaries and details of their interest and the proposed individual to substitute the Executor;
- Unless the proposed Executor is the Official Solicitor, his signed or sealed consent to act;
- A Witness Statement of the proposed Executor's fitness to act in such capacity, if he is an individual.
Misconduct is not always clear and may not always result in removal. For example, the Court is not likely to remove an Executor from his office if he has acted rudely or been unfriendly to the beneficiaries, or if he has repeatedly refused to give the beneficiaries information, or if he has been slow on settling the Will.
How to remove and substitute an Executor
If the beneficiaries have serious concerns regarding the ability of an Executor to perform his duties, the beneficiaries must firstly write to the Executor and ask him to explain his actions. If an explanation is not forthcoming or the beneficiaries are not satisfied by the Executors' explanation, he or she may make an application to Court to remove or substitute the Executor.
The High Court has a discretionary power under Section 50 of the Administration of Justice Act 1985 to appoint a substitute personal representative or to terminate the appointment of a personal representative. Such an application must be made pursuant to Civil Procedure Rules 57.13. If proceedings regarding an inheritance dispute have already commenced, then such an application is made by application notice. However, if there are no proceedings, then a Part 8 claim needs to be made.
The application must be supported by the following:
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