Hi, a friend of mine is the executor of her parents estate. They died a few years ago and the family were in 2 minds about selling the old family home or renting it out.
There are 4 in the family and because of economy, 3 of them have decided the either want to a) rent the house to get some income (c. €20k total p.a.) or b) sell the house and split the funds equally as per their parents wishes.
One brother however has decided that he will not agree to renting the house and is prepared to sell but not at the current market rate.
Two questions arise 1) can 1 party stop the sale if the sale is at the market rate (for example at auction)? and 2) can she, as the executor, request the family solicitor to realise ALL of the assets (house / car / share /bank a/c) and distribute equally among the beneficiaries without the consent of all parties?
Any advice would be much appreciated.
Roy
There are 4 in the family and because of economy, 3 of them have decided the either want to a) rent the house to get some income (c. €20k total p.a.) or b) sell the house and split the funds equally as per their parents wishes.
One brother however has decided that he will not agree to renting the house and is prepared to sell but not at the current market rate.
Two questions arise 1) can 1 party stop the sale if the sale is at the market rate (for example at auction)? and 2) can she, as the executor, request the family solicitor to realise ALL of the assets (house / car / share /bank a/c) and distribute equally among the beneficiaries without the consent of all parties?
Any advice would be much appreciated.
Roy