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My husband and his sister have been left as joint executors and joint beneficiaries of their late mothers will.
The sister decided once the property started to gain interest that she might want to buy it. Her position was not made clear until a cash offer was on the table. Her indecisive action in agreeing to the first offer caused the cash buyer to decide to go elsewhere and the sale was lost.
It has been 3 months since the house has been for sale now. She has still not given the go ahead to obtain a mortgage in principle to buy it or has she attempted to put her own property up for sale.
A further cash offer has now come in and she has once again decided she wants to buy the property. She increased her offer to above the cash offer and was given a week to obtain a mortgage in principal. She agreed but did not do it. Just before the deadline she also dropped her offer to match the cash offer and has not still applied for the mortgage. The cash buyer is now fed up and does not want to wait any longer. The second cash buyer has now been lost.
My husband and I now believe she will continue this game until we run out of available buyers until perhaps he is forced to agree to a sale to her of the property at a lower value as property price drops and the ongoing costs of holding onto it get too much for us to keep paying.
We feel that she has conflict of interest. She is also using an outbuilding and the double garage to store business premises and has done so for free for many years. This has continued. She is in no hurry to move anything and we feel she will sit it out until she has her own way over everything.
My husband feels he mentally can’t handle her game playing any longer but does not want to be pulled and pushed to a point whereby he is forced to allow her to buy it cheap. Although he also feels she’s not going to agree to any sale going forward but to her.
My question is:
1. Can my husband stop her buying the property as she is an executor and has multiple conflicts of interest?
2. What can he do to stop this game playing and how does he proceed in trying to sell the property?
He is happy to instruct solicitors to now deal with her if he feels they can legally bring about movement in the right direction to sell the property as per the will to distribute the assets.
We appreciate any advice to stop this awful game playing and stress. Thank you
The sister decided once the property started to gain interest that she might want to buy it. Her position was not made clear until a cash offer was on the table. Her indecisive action in agreeing to the first offer caused the cash buyer to decide to go elsewhere and the sale was lost.
It has been 3 months since the house has been for sale now. She has still not given the go ahead to obtain a mortgage in principle to buy it or has she attempted to put her own property up for sale.
A further cash offer has now come in and she has once again decided she wants to buy the property. She increased her offer to above the cash offer and was given a week to obtain a mortgage in principal. She agreed but did not do it. Just before the deadline she also dropped her offer to match the cash offer and has not still applied for the mortgage. The cash buyer is now fed up and does not want to wait any longer. The second cash buyer has now been lost.
My husband and I now believe she will continue this game until we run out of available buyers until perhaps he is forced to agree to a sale to her of the property at a lower value as property price drops and the ongoing costs of holding onto it get too much for us to keep paying.
We feel that she has conflict of interest. She is also using an outbuilding and the double garage to store business premises and has done so for free for many years. This has continued. She is in no hurry to move anything and we feel she will sit it out until she has her own way over everything.
My husband feels he mentally can’t handle her game playing any longer but does not want to be pulled and pushed to a point whereby he is forced to allow her to buy it cheap. Although he also feels she’s not going to agree to any sale going forward but to her.
My question is:
1. Can my husband stop her buying the property as she is an executor and has multiple conflicts of interest?
2. What can he do to stop this game playing and how does he proceed in trying to sell the property?
He is happy to instruct solicitors to now deal with her if he feels they can legally bring about movement in the right direction to sell the property as per the will to distribute the assets.
We appreciate any advice to stop this awful game playing and stress. Thank you
