House not to be sold, question

J

jman0war

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If a house is left to siblings but it is stated in the will that the house should not be sold, what are the options?

Particularly if one sibling in particular wants the house for themselves but has no resources and no hope of a mortgage to buy out the others.

If a will states that the house should not be sold, is that actually binding?
 
I'm sure someone will be on here later but as far as I know, ownership of an asset cannot pass to someone/a group of people while at the same time determining what they do with it. So it is not binding. It can be stated in the will that the it is the preference that the house is not sold but no one can see what may happen in the future and so they recipients cannot always maintain the wishes of the bequestor.
 
Deed of assent will pass the house into the name(s) of the beneficiaries. Then once estate is wound up the executors job is done.

The beneficiary can then decide what they want to do with the house.
 
jMan

Could you reproduce the actual wording of that section of the will.

Is one person being given a lifetime tenancy?

Brendan
 
It is pure speculation on my part. One of the siblings is advocating for such a clause to be inserted.
 
Leaving a house to a group of people which cannot be sold would be a recipe for disaster.

The will should specify that the house be sold.

Alternatively give that sibling a life tenancy and adjust the rest of the will accordingly.

It's probably best to make sure that the parents go to a solicitor and make their will free of any input from the children.

Brendan
 
At least there is a will. I know a family of about 10 siblings who let a fine house decay over a 20 year period and only then sorted out the legalities a la intestacy and disposed of it.

My own recent extended family experience is of 5 siblings inheriting property and its very much the long finger situation, no movement, no one even wanting to sort it out.
 
terrysgirl33 said:
Why?
Click to expand...
My guess is that they are scheming to take sole possession of the house after the parents die. However i suspect the parents are insisting that their assets are to be divided equally among siblings.

I suppose they believe that if they move into the house, kids in tow; then play the woe is me card, no court would put them out into the street.
 
Thirsty said:
Deed of assent will pass the house into the name(s) of the beneficiaries. Then once estate is wound up the executors job is done.

The beneficiary can then decide what they want to do with the house.
Click to expand...

Where a property is left to a number of beneficiaries with no debts attaching and no instructions in the will stating that the house is to be sold can the executor just go ahead and sell the house even though one of the beneficiaries wants it transferred in to the names of the beneficiaries?
 
Laramie said:
Where a property is left to a number of beneficiaries with no debts attaching and no instructions in the will stating that the house is to be sold can the executor just go ahead and sell the house even though one of the beneficiaries wants it transferred in to the names of the beneficiaries?
Click to expand...

When a house is left to a number of beneficiaries I would expect it to be sold.
 
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