Not strictly true but I am sole executor for my late mother. There is a property worth about £150k and a very small amount of cash. All well below IHT threshold. I am dealing with this so far without a solicitor and have got probate.
The estate is shared between me and my sister. Neither of us are in a hurry or in need of the cash. I am minded to keep the house and let it out but sis isn't interested and wants to sell.
So I could buy her out.
There are a number of problems.
Any valuation done now would be based on the market as it was a few weeks ago, EAs vary between optimism and gloom as to what will happen after lock down. In any case they can't do a valuation just now.
One has suggested that I may have to pay stamp duty on the entire value which doesn't sound right?
I will seek legal advice but wondered if anyone had had a similar experience?
I have also thought of transferring the deeds into our joint names for now so that I can complete the estate as I'd rather have my affairs in order.