I am shaking I'm so upset. My gran sold her late husband's business to her son, I was with her at the signing of the contract and she specified all profits and debts were to be transferred on sale so she wouldn't be liable for any, which she was particularly anxious about. She died a week later and I'm executor of the will. Her son has been running the business since her husband died 6 years ago and she's seen no profit from it since, he's handled all the money, but now he's chasing me for £17,000 debt from the money he gave her for the sale. He only paid half the value £30,000) as he was gifted the other half anyway.
I have said that he has profited from the business for the past 6 years and is entitled to the money in the business account, which he can have once I get grant of probate as it's frozen at the moment, but I don't think he's entitled to any money my gran had at her house, (possible profit from before ym Dad's death, but as it's in cash I don't know) or any money out of what he paid for the business.
Can anyone help? He's getting aggressive with me, saying he's going to take me to court etc.
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Any sale of business experts out there?
11 replies
BibiThree · 14/11/2012 10:51
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