Disposing of properties in Wills

A friend of mine has been left part of a house in a will however they are concerned the executor may not make an effort to sell the property for the best price and in fact may try to sell it to a friend or associate for a below market price. Anyone experienced similar things before? Is their anything my friend can do to ensure this doesn't happen?

Cheers,

Smallbuyer

 

Executors have duties to the beneficiaries. If this happens you could easily sue them for any loss you incur. Why not tell them you want to arrange access for a valuer to go through so that you can ascertain the true market value.

 

My siblings and I are also having executor issues, one beneficiary says nothing, one is the executor, and the rest of us want the only asset disposed of ASAP. The executor has sent us all a letter basically telling us to naff off, and put "any requests in writing for consideration" and that we "may receive a cheque in due course. " Meanwhile the silent one has a family member, of their spouse, living rent free in the asset and the executor has repairs and maintenance done to a property which would be demolished, by mates and pays them from the funds left by the deceased. I'm ready to go postal

 

Hello Terry,

Thanks for your reply. they have got a val already. I think the idea though is to sell the place at auction though. The concern is they deliberately make the place look as bad as possible, make it hard for people to inspect, dont advertise the auction (or as little as possible) to reduce the completion then buy it cheap.
If it the case then one has to sue if they think the process is sus (even if they sell way under the val?) I would have thought this is fraud and could be reported to the authorities??

 

Thats no good moridog, from what ive seen seem to happen a lot, dodgy executor (or hopeless ones) trying to exploit the situation. one really bad one was from another friend, a cousin who wasnt a benificiary wasexecutor but they wouldnt pay people their money until everyone signed something 'paying' them for being executor the greed of some people

 

You never dream it would happen to you. This executor, prior to only communicating by letter sent grandiose email statements talking about "my lawyer" and "my real estate agent". When we queried spending thousands on probate via solicitor for a simple, uncomplicated, will, communication was ceased via email.

 

Why not just go legal?

 

Not fraud but a breach of their executor duties. You could sue for any loss. Keep good evidence as this will be the hard part.

 

Thank you for responding, could you point me in the right direction of who I might seek out? Or pm me?

 

Just look for a solicitor who specialises in litigation for wills and estates.

 

Thank you.