Executor and selling the house

[Hoghog12]

The will states that the house is left to me and my sister (half each). Sister is executor of the will. I have asked her to involve me in everything. She hasn't. She has put the house on the market without consulting me about valuations or sale deals or anything. She said she is the executor so my consent is not needed! This isn't right is it?

If she is the sole executor, then she doesn't have to involve you. All she has to do is pay you half at the end of the process

@CMOTDibbler

If she is the sole executor, then she doesn't have to involve you. All she has to do is pay you half at the end of the process

Exactly

Really? But I'll be paying half the fees that I haven't consented to... Also what if I don't want to sell?

Can you afford to give your sister her half of f the property? If not it needs to be sold .

Sorry. Your sister is the executor so it is her job alone to sort out your mother's estate. You will then receive half the proceeds. You cannot tell her how to execute the estate. And YOU are not paying the fees. The fees will be paid from your late mother's estate.

Won’t the estate be paying half the fees ?

Have you offered to buy her out of the house and can you afford it?

How long have you and your sister been on such bad terms ? Is this your parents house and weren’t you and she dealing with each other before your parent died? ( I assume this was recently ).

The estate is paying the fees (just as funeral costs, household bills, debt is paid by the estate). If you wish to buy the other half of the house from your sister and keep it, you can (but at market rate) , but you don't have the right to say that its not to be sold

There is nothing in the estate, just the house. So the solicitor fees will need to be paid before the house sells which I assume, I will need to pay half! Or are you saying the executor needs to pay this? Or this comes out of the total sale of the house?

The will didn't say we should sell the house. I can afford to buy her out but we never had that discussion. Due to lockdown we said we would meet and speak afterwards. But then she went ahead and put house on sale, for quite a low asking price I think and accepting the first and only valuation she received.

All teh costs ( legal fees, funeral costs, repaying pension etc ) come out of the estate.

Your sister needs to sell the house for the market values. She can’t , for example, sell it to someone she knows for a reduced price.

Have you emailed / written her to say you want to buy her out her half ?

What’s the backstory here ?

Due to lockdown we said we would meet and speak afterwards

Surely you could have spoken on the phone ? Ridiculous to leave such an important issue until "after lockdown" .

I have posted this in legal for a reason, to get legal advice. Not to answer random assumptions and generalisations thanks!

There is nothing in the estate accept the house. Does this mean my sister as executor will need to pay all fees upfront and then take them out of the proceeds of the house? Surely, I will need to sign something along the way because I own half the house.

The estate has to pay funeral costs, legal fees and any other debts. If there is Inheritance Tax to pay that must also come out of the estate. If the house is the only thing in the estate the only way it could be kept is for you and your sister to cover these costs out of your own pockets. You could then buy out your sister's half if you want. In effect, you would need to pay half the price of the house and half of the debts that need to be paid by the estate.

Failing that, the house has to be sold. Any solicitors and estate agents fees will be paid when the sale completes. You won't have to pay them but they will reduce the amount you inherit.

Your sister, as executor, does not have to consult you about the sale at all. If she sells it for less than its true market value you have a case. However, remember that house prices appear to be falling at the moment with many experts predicting that they will fall significantly due to the pandemic. Also, you are trying to sell an empty house and want to sell it reasonably quickly as bills have to be paid (e.g. the funeral). It is not unreasonable for it to be priced accordingly.

Put in an offer now?

No you don’t need to consent to the sale. Do you know the rough value of the property? If there are no other assets it may be that the sale needs to happen to cover IHT. The expenses of selling the house will become expenses of the estate so it’s not your money until the estate is distributed. She does however have to act in the best interests of the beneficiaries. I would recommend getting some legal advice and if you want to buy your sister out you need to have that conversation ASAP.

@Hoghog12

There is nothing in the estate, just the house. So the solicitor fees will need to be paid before the house sells which I assume, I will need to pay half! Or are you saying the executor needs to pay this? Or this comes out of the total sale of the house?

The will didn't say we should sell the house. I can afford to buy her out but we never had that discussion. Due to lockdown we said we would meet and speak afterwards. But then she went ahead and put house on sale, for quite a low asking price I think and accepting the first and only valuation she received.

As a beneficiary she needs to act in your best interest and make the most money for you that is reasonable to do.

Have you spoken to her again to formally say you want to buy her half? Involving a solicitor could end up expensive for you but I would consider getting one to write a letter saying you wish to resolve this informally and based on the asking price she has marketed the property for, you will pay her half to become the sole owner of the property.

Your sister doesn’t have to consult you but she does have a duty to act in your best interest. If you are concerned about the quality of her performance then I would suggest you speak to a lawyer.

Thanks all!

If you want the house offer her value of it and it's yours!

This:
Have you spoken to her again to formally say you want to buy her half? Involving a solicitor could end up expensive for you but I would consider getting one to write a letter saying you wish to resolve this informally and based on the asking price she has marketed the property for, you will pay her half to become the sole owner of the property.

Alo point out the estate would save estate agent fees.
She'd be better off.

@Hoghog12

I have posted this in legal for a reason, to get legal advice. Not to answer random assumptions and generalisations thanks!

There is nothing in the estate accept the house. Does this mean my sister as executor will need to pay all fees upfront and then take them out of the proceeds of the house? Surely, I will need to sign something along the way because I own half the house.

If you want legal advice, speak to a solicitor. You have no idea what qualifications the people who post here do or don't have. Your sister may have been chosen to be executor because she would get on with things.

Surely, I will need to sign something along the way because I own half the house

Missed this. No, you don't own half the house. At this stage the house belongs to the estate. Your sister, as executor, is administering the estate. If the house needs to be sold she can sell it. She doesn't need your consent to do so. You won't have to sign anything.

If you actually want to buy her out, surely it’s in your benefits that she’s accepted a low valuation? Offer her half of it to buy her out.