Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Chat

Join the discussion and chat with other Mumsnetters about everyday life, relationships and parenting.

Conflict of interest- inheritance

138 replies

hopeishere · 21/02/2022 18:12

Is this a conflict of interest:

Property left to A, B and C. Equal shares. Former childhood home.

A is an executor.

A has lived rent / bills free in property for eight years. Had previously own home but sold it.

A is interested in buying B and C's share. Can they do this assuming they pay a fair and mutually agreed price?

OP posts:
lionsleepstonight · 11/06/2023 09:17

Agree, executors are not gods!

hopeishere · 11/06/2023 09:23

Sorry I should have said - house price has been dropped a considerable amount but even that hasn't generated much interest.
Other executor is A's best friend.

OP posts:
Chatillon · 11/06/2023 09:29

B and C should get independent advice on the house value and (possibly) separate legal advice from A.

Interested in this thread?

Then you might like threads about this subject:

burnoutbabe · 11/06/2023 09:34

hopeishere · 11/06/2023 09:23

Sorry I should have said - house price has been dropped a considerable amount but even that hasn't generated much interest.
Other executor is A's best friend.

Yes but even if they are a friend they are still a solicitor and therefore have a professional role to live up to (and to be reported to their standards committee)

hopeishere · 11/06/2023 09:37

I think the house value is fairly accurate.

Worried how long A will keep living there though. They made a big song and dance about paying for heating oil Hmm which was mad as they are the only one who benefits from it being warm!! They maintain they are doing everyone a favour by living there - keeping it secure, lower house insurance (they maintain it will be hard to get it insured if it's empty).

OP posts:
CatchThatBallOfFire · 11/06/2023 09:53

Could the house go up for auction? That could be worth exploring to bring an end to all of this. Solicitor is failing in their duties as executor to let this linger on.

lionsleepstonight · 13/06/2023 16:01

hopeishere · 11/06/2023 09:37

I think the house value is fairly accurate.

Worried how long A will keep living there though. They made a big song and dance about paying for heating oil Hmm which was mad as they are the only one who benefits from it being warm!! They maintain they are doing everyone a favour by living there - keeping it secure, lower house insurance (they maintain it will be hard to get it insured if it's empty).

I easily got insurance for a probate property, but did have to agree to a weekly check. £178 b&c.

GasPanic · 13/06/2023 16:58

The reason stuff like this goes on for so long is because people won't pay for the legal advice which outlines their options.

B and C clearly have options here. They should find out what they are and then choose an appropriate course of action.

hopeishere · 26/06/2023 13:41

An update! There has been an offer on the house that was finally accepted - B felt it was too low but A and C were happy. It's less than everyone would have liked but it's progress.

OP posts:
Comety · 26/06/2023 13:45

hopeishere · 21/02/2022 18:59

@MichelleScarn

Are B & C wanting it to be taken into account A living rent and bill free for 8 years?
No. In retrospect they should have challenged this at the time. A wasn't caring for anyone while living there.

Presumably A was maintaining the place or at least contributing to upkeep though?

I'd be happy to see it sold to A. Keeps it in the family (if that matters to you) and saves all the hassle and cost of finding another buyer.

hopeishere · 26/06/2023 13:51

No A didn't do any upkeep. Or anything he did he didn't pay for. A could not afford to buy the house in the end. I agree B and C should have challenged them living there earlier.

OP posts:
Auntpodder · 26/06/2023 14:00

That’s really good news… Fingers crossed that it exchanges and completes fast…

hopeishere · 08/09/2023 14:04

Well it's not completed yet... lots of back and forth with the purchaser messing them about.

Still no contact between A and C. B is working away. A still living there... B and C no idea who has been paid out / owed A says they'll provide an update but it's not materialised.

Sorry for boosting an old thread but I wanted to see how long the "purchase" had been going on for. Didn't realise it was nearly two months. No one wants to give purchaser an ultimatum as it's the only offer there has been in 18 months. Agents useless - don't understand why they don't want it off their books asap!

OP posts:
New posts on this thread. Refresh page
Swipe left for the next trending thread