No actually there was no agreement between us. I took a percentage of the lettings and also got paid for the cleaning. We always used any money to plough back into the property as it needed alot of upgrading. My elderly friend was pleased that the property was being used and wasn't too worried about getting an income from it.
The account is in my elderly friends name and my name - so I am a signatury. I was wondering also why the executor hasn't asked for the account to be frozen or closed since the death of my friend.
Thank you for that. So, it is fine for me to carry on with running the business as it is until it is sold?
Yes, I am fairly certain that the person who I am dealing with is the executor (owner of the property and friends son).
As I have set up the business from scratch and have gained a good client base, would I not be able to claim more than half the money. Does it come down to just an agreement between the parties concerned? What would be my best way to deal with the dividing of the money?
THank you - Can you please confirm the question that I can still carry on the business as usual using my signatory all the time.
Yes I do speak very occasionally to the owner. They are happy for me to continue to run the business.The property is being sold so the account will then have to be closed so hopefully we can come to an amicable agreement.
Thank you for that - I have been continuing to use the property as a holiday let business since my elderly friend died with the permission of the son so I assume it is alright to carry on doing so until the property is sold.
I wasn't sure if I was supposed to close the account when she died but I thought that I would be informed as to what to do by the Executor/Solicitor of the deceased. I heard nothing so I carried on. Thank you for letting me know the information regarding this situation.
When the property is sold, I will either close the account or change it to my name only. I will also work out what I believe to be a fair divide of the money and hopefully they will agree.
Thank you for your help. I was slightly hesitant about using this on line service but have to say it has been very helpful - I will certainly be back if I need any more assistance.
I was slightly hesitant about using this on line service but have to say Alex has been very helpful - I will certainly be back if I need any more assistance.