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The property was purchased a year ago for £185,000 and my brother paid in £47,500 into the joint bank account for his 25% share. A mortgage was taken out for £112,000. My brother's friend maintains the Estate's share of the property will total £18,250.00 calculated as follows: £185,000 minus £112,000 repayment of mortgage, balance £73,000 with 25% paid to the Estate £18,250. As you can see an investment of £47,500 does not warrant a return of £18,250. Obviously the Estate has to agree to sell the 25% share to my brother's friend. Can we offer to sell it at £47,500?
I don't know. How would I find out?
No. Am I entitled to contact them in my role as Administrator of the Estate? What should I be asking for?