I would like to know, if there is a legal way for myself and my sister to buy my mums property, there is one sibling who is refusing to sell his share to us, even though he has been given the chance to buy us out, as he cannot obtain a mortgage. i feel as administrator this is the best way frwd to achieve the best offer for my mums property. The family solicitor is advising that because im the administrator i am gaining an unfair advantage and therefore cannot buy the propery.
Thank you for your answer, our problem is with one beneficiary, the four including myself are happy for the sale to go ahead.
irealise this is a difficult situation, but i am trying to act for all beneficiaries and as the property is increasingly in need of maintenance and general repairs and is devaluing due to this, the four beneficiaries agree that this is the interest of all parties in moving frwd to conclude the estate.
If no higher offers are put frwd through the estate agent, the offers recieved are £95,000 . and 2 offers of £110,000 . myself and my sister have offred £115,000 18 months ago and its still standing.
There must be either an arbitraitor or independant court that we could take our case to get a ruling either to overide the the last beneficiariy in the interest of all other beneficiaries.
The last remaining beneficiary has been offred the property for £112,500 , in which he stated that he couldnt raise funds.
Can u advise as to whether we could go to an independant court for a judgement on this matter, as for myself as administrator its still the best offer on the table and i feel im acting in the best interest of the estate.