Disagreement over valuation of inherited property between co-beneficiaries

[Guest]

Sister and I are co-executors and co-beneficiaries. Probate has been granted however she insists that the probate valuation is the 'true' valuation and therefore she's only willing to buy my ownership share at that price, with a small addition based on her calculation for house price rises. The probate valuation was carried out in 2023. I disagree - for one thing I'd want a current valuation and secondly private offers have historically been much higher (the property comes with land attached which developers would love to get). How to proceed?

[atticus]

The most desirable course is to come to an agreement: easy for me to say. The obvious thing would be to take advice from good local estate agents on how to market the property to realise the best return.

In the absence of agreement you can go to court under the Trusts of Land and Appointment of Trustees Act 1996 seeking an order of the court requiring the property to be sold.

[Guest]

The most desirable course is to come to an agreement: easy for me to say. The obvious thing would be to take advice from good local estate agents on how to market the property to realise the best return.

In the absence of agreement you can go to court under the Trusts of Land and Appointment of Trustees Act 1996 seeking an order of the court requiring the property to be sold.

My sister 100% will not budge on her offer. She allowed estate agents to visit and make estimates. However she refuses to use their estimations, and will not allow the property to be put on market to determine a value that way, either. I'm not sure if legally I can do that - besides how can I invite estate agents to market a property if I am only co-owner? And what'd stop her sabotaging that anyway?

I don't want to reach the point of having to force a property sale. Given how fixated she is on owning the place outright, I'm amazed she's willing to risk that and go through the waste of money. I really feel like I would have the stronger claim (she hasn't tried to get any current valuations, won't negotiate, won't communicate, and I don't want to bring this to the judge's attention but she did use the address to fraudulently enrol her son in a local school when she does not live there).

Is there a lesser option before forcing a sale that the law can help us reach?

[PallasAthena]

She won't budge? Well tell her neither will you! If current open market value is higher than probate value you are losing out on your 50% inheritance by selling at undervalue. So don't sell until she raises her offer.

If you are a co-executor, both named as Executor on Probate, then you are entitled to get an estate agent valuation without her agreement. After all, sounds like she got one without telling you....

[atticus]

My sister 100% will not budge on her offer. She allowed estate agents to visit and make estimates. However she refuses to use their estimations, and will not allow the property to be put on market to determine a value that way, either. I'm not sure if legally I can do that - besides how can I invite estate agents to market a property if I am only co-owner? And what'd stop her sabotaging that anyway?

I don't want to reach the point of having to force a property sale. Given how fixated she is on owning the place outright, I'm amazed she's willing to risk that and go through the waste of money. I really feel like I would have the stronger claim (she hasn't tried to get any current valuations, won't negotiate, won't communicate, and I don't want to bring this to the judge's attention but she did use the address to fraudulently enrol her son in a local school when she does not live there).

Is there a lesser option before forcing a sale that the law can help us reach?

One option is for you to agree your sister's terms.

If you are not willing to do that, then something (or someone) will have to give. You could try mediation - which like the tango takes two - or some other way of reaching agreement. If you cannot come to an agreement, then there is the blunt instrument of the court process as stated in post #2.