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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10650
Experience:  30 years as a practising solicitor.
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Parents house was left in probate. The will offered equal share

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Parents house was left in probate. The will offered equal share to her three siblings or if one was interested in keeping the property then they must buy out the other two siblings at a declared amount, say £10k per sibling. Only one of the three siblings wish to live in the property and have agreed between themselves that the other two siblings will receive the amount declared in the will plus a further amount as stipulated by the two siblings.
How is the deeds transferred? Is it first transferred to the three siblings then the one sibling wanting to live there has to buy out the other two and get the deeds again transferred into their name, or, can the house deeds be transferred directly to the sibling that all three have agreed to take ownership in terms of the will plus an additional cost as agreed between the siblings?
Submitted: 1 year ago.
Category: Scots Law
Expert:  clairep80 replied 1 year ago.
HiThank you for your question. My name is***** shall do my best to help you but Ineed some further information firstHave the agreed payments actually been made?
Customer: replied 1 year ago.
No, we have agreed the amounts but also agreed that I would not make payment until after the house was transferred into my name.
Expert:  clairep80 replied 1 year ago.
Hi
My apologies I have just noticed you are in Scotland where the law is slightly different.
I shall opt out and tranfer you to the corrcet section.
It will take a little tme but please be patient - my colleague is well worth waiting for
Clare
Expert:  JGM replied 1 year ago.
Thank you for your question. I am a solicitor in Scotland and my colleague has kindly referred your question to me.
The typical situation is that the house would be transferred to the three beneficiaries and it would be left to them to decide whether to agree a buy out by one or other of them.
However, as a matter of law it could be done by a deed by the executor to one person given the terms of the will provide for this. The reason it wasn't done that way could have been that the executors or their solicitors did not want to act for the beneficiaries as that would potentially have been a conflict of interests. The executor just wants to get the estate wound up and distributed, not necessarily to wait for the siblings to agree whether there should be a buy out, especially where an additional cost is concerned. Further, the additional cost would not have to be borne by the estate by doing it that way.
Happy to discuss further.
I hope this helps. Please leave a positive response so that I am credited for my time.
Customer: replied 1 year ago.
I understand your answer but I shall say that the three siblings were the executors who had agreed between them who was to take over the house before employing a solicitor. A solicitor was then employed and one of the siblings was made the contact for issues related to the estate but not the one taking on the house. The solicitor was instructed at the onset about the agreement about who was to take on the house as given in the terms of the will and was also informed that any issue about additional payment was not to be considered as this was a private agreement between the siblings. The solicitors then made arrangements for the three siblings to become the executors after which they than started the registration of the deeds where it was thought was being transferred into the name of the sibling taking over the house. It was only when asked to sign onto the new deeds that it was apparent all three names had been added to the deeds. And, it was only after finalising the details of the deed transfer was the sibling, taking on the house, was told they had to get there own solicitor as one solicitor cannot act for both parties selling the house. But the house is not being sold it is being given to one of the siblings under the terms of the will. Hence the reason for this query, if the house is being inherited under terms of the will, under direction of the legal executors, why does the sibling have to then buy the house from the other siblings?
Expert:  JGM replied 1 year ago.
In that case, in the circumstances you describe, and assuming the will was worded in appropriate terms, the house could have been transferred by agreement directly to the one beneficiary concerned.
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10650
Experience: 30 years as a practising solicitor.
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