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Indemnity To Executor

  • 22-02-2012 11:29am
    #1
    real rocker
    Registered Users, Registered Users 2 Posts: 642 ✭✭✭


    I am an executor in respect of assets which mainly constitutes a property which, under terms of will, will be divided amongst my siblings.
    One of said siblings wishes to buy the property and seems to have agreed terms with the others.
    A spanner has been thrown in works as the sibling wishes to get a builder on site for extensive building renovation prior to sale going through.
    My query is to do with protection for me as executor should this request be agreed. Is it possible to be indemnified from a insurance and legal perspective given that I would have no contract with the builder.
    Any ideas?


Comments

  • #2
    Kosseegan
    Banned (with Prison Access) Posts: 987 ✭✭✭Kosseegan


    Don't agree to it is the simple answer. You are the legal owner of the property until it is transferred. Get the sibling to pay everyone and transfer title to them before any work starts. There is no point in bringing that hassle on yourself that a building project might bring.


  • #3
    coylemj
    Registered Users, Registered Users 2 Posts: 25,622 ✭✭✭✭coylemj


    Kosseegan wrote: »
    Don't agree to it is the simple answer. You are the legal owner of the property until it is transferred. Get the sibling to pay everyone and transfer title to them before any work starts. There is no point in bringing that hassle on yourself that a building project might bring.

    +1 If the builder demolishes half the building and then goes bust, the remaining siblings will be gunning for blood and they'll come after you. Cover your ass and don't let anyone touch the building until you have finished your duties as executor and no longer have any responsibilty in the matter.


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