Question about sale of house without notification

malene

A friend of mine was left one sixth share in a property, and it was put up for sale and sold without ANY notification from both Executors of any offers being made on the house or the sale having been being completed.

The two executors did not notify the other 4 of the final sale at all, but the one sixth share IS forthcoming.

But, at this point, with the new owner starting renovation on the property, what rights have been breached as regards non disclosure of the sale by the Executors to the other 4 beneficiaries and can any action be taken or any recompense sought?

Also, the executors solicitor failed (and does he have a duty to) to inform the beneficiaries of the impending sale.

Thanks in advance for any replies.

Mal

TheDriver

that sounds complex and seems like legal forum would be best to answer your question. I thought executors could liquidate all assets but having said that, I also thought all owners had to sign the contract?

D3PO

go to a solicitor. An online forum is not the place to seek advise on such a complex matter

malene

well I'm hoping someone can help and if the thread needs to moved, that's fine.

Ray Palmer

Pretty sure the executor can do as they like with things given split ownership. They can decide to sell and split the proceeds if they so choose.
Normally it is to avoid arguments. Odd they wouldn't have mentioned first but their choice. What did you plan to do with a 6 th of a property?

listermint

Yeah i believe its up to the executors to have the final say on what goes on without going right into the ins and outs.

If this is in dispute then go seek advice from a solictor in person.

malene

Ray Palmer wrote: »

Pretty sure the executor can do as they like with things given split ownership. They can decide to sell and split the proceeds if they so choose.
Normally it is to avoid arguments. Odd they wouldn't have mentioned first but their choice. What did you plan to do with a 6 th of a property?

the property is sold, they'll get a sixth of the proceeds. It's just 4 didn't want to sell, but the other 2 who had a share and were executors decided to sell. I thought a majority of 4 against 2 would have some bearing, but maybe not.

Thanks for replies.

M

Bicycle

The executors can sell the house. (The other 4 could have bid on the house if they wished).

However if a beneficiary of a will considers that the executor is not fulfilling their obligations appropriately, then they can sue that executor
http://www.citizensinformation.ie/en/death/the_deceaseds_estate/dealing_with_the_deceaseds_estate.html

Kosseegan

malene wrote: »

the property is sold, they'll get a sixth of the proceeds. It's just 4 didn't want to sell, but the other 2 who had a share and were executors decided to sell. I thought a majority of 4 against 2 would have some bearing, but maybe not.

Thanks for replies.

M

The executors are only obliged to take into account the wishes of the beneficiaries but are not obliged to follow majority rule. If 4 didn't want it sold they should have offered to buy out the shares of the two who did want to sell.

Ray Palmer

malene wrote: »

the property is sold, they'll get a sixth of the proceeds. It's just 4 didn't want to sell, but the other 2 who had a share and were executors decided to sell. I thought a majority of 4 against 2 would have some bearing, but maybe not.

Thanks for replies.

M

Majority rule doesn't apply. The executors should probably have discussed it more. An offer to buy the 2 out should have come up. As mentioned they can sue the executors.
Family stuff is delicate and I would never want to be an executor again. Don't be so sure that 4 really wanted to keep it, they may have said something different in private.

Victor

If you want legal advice, you need to speak to a solicitor.

Based on what you have said, the sale might have been imprudent, but not necessarily improper.

StillWaters

It's the executors duty and responsibility to realise assets of the Estate and disperse them, be it property, shares, insurance or cash. I don't think they have any duty to consult with beneficiaries on this.

Mrs OBumble

malene wrote: »

well I'm hoping someone can help and if the thread needs to moved, that's fine.

Someone can help. That 'someone' is a solicitor.

Advice from randoms on the interweb is worth exactly what you pay for it.

malene

Thanks to those that contributed. You can lock the thread now if you wish.

M

The_Conductor

Done.