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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10353
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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I am the Executor of a will and I have received probate in

Resolved Question:

I am the Executor of a will and I have received probate in my sole name. I was due to contact estate agents in order to value and possibly sell the property named in the will. However, one of the beneficiaries has already contacted estate agents and received valuations. This beneficiary has also stated there intent to possibly purchase the property from the other beneficiaries.
Do they have the legal right to do this and could it be challenged by the other beneficiaries on the basis that the sale price could be manipulated?
Submitted: 1 year ago.
Category: Law
Expert:  Aston Lawyer replied 1 year ago.

Hello and thanks for using Just Answer.

My name is ***** ***** am happy to assist you with your enquiry.

As I am sure you are aware, as Executor, it is your duty and only your duty, to decide what happens to the property. It would of course be normal for the property to be sold.

However, provided the beneficiary is able to pay the true market value for the property, there is no reason why a Sale to him/her can not proceed.

I am not sure why the beneficiary has taken it upon themselves to get valuations etc, and if you do proceed with a Sale to them, you will have to disregard any valuation the beneficiary has already obtained. You will of course need to be impartial and it would be normal for an Executor to obtain 3 valuations, and then choose the middle valuation as the Sale price of the property. If the beneficiary is prepared to proceed with this middle valuation, you are free to proceed, without any possible comeback from the other beneficiaries- indeed, you can also tell them that doing it this way, the Estate will be saved from having to pay Estate Agents commission, which is likely to be 1%-1.5% of the Sale price.

I hope this clarifies matters and sets out the legal position.

Kind Regards

Al

Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10353
Experience: Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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