I've inherited my grandmothers house.Can I keep it or does it have to be sold?

Question

Originally we put the house on the market but had 2 sales fall through due to structural damage.I've asked the executor of the will if he can just give me the house instead of selling it so that I can have a redevelopment project and sell it later on.He wants to sell it for cash £20k less than the asking price and said that I wouldn't be able to keep it and that it has to be sold.My grandmother left me and my brother the house in her will and never said that she wished it to be sold.My brother is in agreement with me on this.Surely we can keep it if we wish.

There are no debts left on the estate.Probate has already been granted but we can't recieve anything until october in case the will is contested by my mother who was written out of the will.

Answer 1

Hi there

It sounds to me like someone is not playing fair with you. The only thing that would force you to sell the property is if you need the money to pay inheritance tax or other debts from the estate - which you have clarified as not being the case.

My instinct here is that the executor is not acting in your interest and may well have someone he has a business relationship with that wants to "bag a bargain" and buy your property below true market value. Whilst i do not know the details it may even be that there is some property development opportunity using the land and any adjacent properties.

Unfortunately the property development world has a few greedy and unscrupulous people - make sure you are not a victim.

1. Don't sell the property if you do not want to.
2. Ask the executor to explain why you would not be able to keep the property - send me an email I would be interested and willing to help - these people make my "blood boil".

Answer 2

If the house was left to you.. then the house was left to you.period
Who is the executor of the will? What does he get? Was there a reading of the will? If you have any questions go back to the attorney that handled the reading and make sure everything is done legally. If someone is executor her in America they can collect about 2.5% of the estate just for being the executor or executrix. Some people wont exercise this option but lots of people do. Be careful he is not trying to pull something on you. Sounds a little funky with him trying to force you to sell. Hmmmm.

Answer 3

Of course you can keep it...however....your statement says opposite things..."I've inherited the house"....and....."can the estate just give me the house."

If it's in the will that you inherited the property, the executor only needs to pay off any debts left behind by your grandmother....If the house was the only asset, then you "buy the house"...

If there is no other debt and she owned the house free and clear and it was willed to you....the estate goes the through probate because of the way title is held.......and to change title.....

It is crucial to determine the $$$ of debt in the estate....If there is no debt....you need to get an attorney to tell the executor he's way wrong.....

Answer 4

The executor of the estate has no right to tell you to sell the home, his only job is to execute the will and put the house in you and your brothers names. Unless the will specifically said, 'the house is to be sold and proceeds to be evenly split between x and y."

If you and your brother subsequently wish to repair and/or sell the home that is something you need to work out after the transfer of ownership from your grandmothers name to yours.

Answer 5

I suspect, and hope that the executor fo the will is perhaps trying to give you good advise. However, that does not seem to be the case. If there are no debts outstanding then clearly you and your brother are free to keep the house. I suggest that you seek independant advise from a solicitor just to protect your interests.
I hope it all works out.

Answer 6

don't see why you should be obligated to sell it since you and your brother have inherited it. by law, both of you own the place and have the right to choose what to do with it.

unless there's anything stipulated in the will for the sale or disposal of the property, i suspect the executor is only trying to push for the sale because he/she has some sort of gain from the proceeds. i'd look into that more closely.

Answer 7

if you are both agreed then yes you can keep it but there may be some outstanding bills in the estate that need to be settled and that is why your solicitor wants to sell. I f there are debts against the estate then you and your brother will be liable and if you don't have the funds the house has to be sold

Answer 8

Depends if the money is needed for clearing up the estate, but if it's left to your brother and you free of ties, then the two of you should be able to come to an agreement. depends very much on how the will was written.

Answer 9

..it sounds like the executor is a professional and not a friend/relative?..if so, he willmaybe want the house sold so as to gain more money in his fees, as usually they take a percentage of the estate.
..i would take further legal advice on this one..if your Grandmother left you the house, and your brother is in agreement..then you should be able to do what you want with it....is there any debts tied up in it???...maybe it needs to be sold to pay off debts??....get further advice.....!!!!!

Answer 10

It sounds to me like you need a barister or lawyer to challenge the executor and maybe get them replaced if he is making up things in the process of carrying out the will.