How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Jo C. Your Own Question
Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 70215
Experience:  Over 5 years in practice
12826847
Type Your Law Question Here...
Jo C. is online now

If you have a property in an estate, can you claim the costs

Resolved Question:

If you have a property in an estate, can you claim the costs of maintaining that property and costs of selling it, if it is sold whilst the estate is still in administration, rather than transferring it to the beneficiaries.
Submitted: 3 years ago.
Category: Law
Expert:  Jo C. replied 3 years ago.
Hi.

Thank you for your question. My name is XXXXX XXXXX I will try to help with this.

What costs are you hoping to claim please?
Customer: replied 3 years ago.

Solicitors fees for sale


Estate Agents fees for sale


 


Council Tax whilst property is unoccupied.


 


Utilties costs

Expert:  Jo C. replied 3 years ago.
Thanks.

Maintenance and selling costs incurred during the process of administration are payable by the executors from the estate.

However the executors are under a duty to act in the best interest of the beneficiaries and everyone of the beneficiaries want it sold, the executors should not sell it.

However if one of the beneficiaries want it sold, it must be sold

Can I clarify anything for you?

Jo
Customer: replied 3 years ago.


Does this mean that the fees for selling the property will be offset against IHT?

Expert:  Jo C. replied 3 years ago.
No, because IHT is based on the value of the estate at the date of death
Jo C. and other Law Specialists are ready to help you