Will inheritence.

[Lynsy]

If somebody in a will has been left property to buy at half the market value and that money divided between other beneficieries can the property be transfered over to that person before the money is raised so that they can sell it to raise the funds. Please answer.

[Lynsy]

Please, please, please answer you guys!

[Lynsy]

Please answer its very very important

[terambulan]

Tricky....I suggest getting the property valued to the agreement of other beneficiaries and work out between you 'buy out' costs. You buy out the others according to the Will. Or rent out the property & share the income according to the Will.

[Lynsy]

This is one of the most important questions i have ever asked!! C'mon there must be some lawyers or solicitors or knowing people out there. Please answer!!!!!!!!!!!!!

[Lynsy]

Thankyou for your amazing effort Terumbulan! Your so very kind. Im sorry to admit its not quite the answer i was looking for so can you keep those answers rolling in please guys! Happy Easter to all and to all a good night!

[Lynsy]

oh please!!!!!!!!!!

[Lynsy]

hey guys! You always usually tell me how much you love MY threads so why dont you please answer me this time!!!!!!!!!!!! Even if you have no answer and you can put me in touch with someone who will know. please answer!

[Lynsy]

Look, please PLEASE answer this question!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Barmaid]

It will depend on the precise terms of the will and the powers that the executors have. Broadly speaking, at law, what you have is an option to purchase. The executors could transfer it to the person on the understanding that the sale proceeds will be transferred to the estate if they have the power to do so. Theoretically it might make sense to do this since the person could purchase it at "half market value" which is only an estimate - the true market value can only be ascertained when the property is actually sold. The fundamental problem I see with this is unless it is expressly allowed for by the Will, the executors are committing a devastavit in allowing the property to be assented to the person without receiving the sale proceeds. It may be that if this person is unable to raise the funds, the beneficiaries get more (since they get the full market value of the house) so they are unlikely to consent. I would be inclined to seek legal advice - the terms of the will will be decisive here.

[factor-fiction]

Even a regular AB user like me sometimes takes a break from AB for half an hour. Be patient Lynsy. Someone else will reply in the next few hours.
who is the executor?

[factor-fiction]

See, even as I typed, Barmaid was stepping in to help.

[Lynsy]

Thankyou for your time and answer barmaid!!! That is most helpfull. My mother actually posted the question and my mother is the executor so if you guys could keep me posted. Oh and it was my mum who wasnt being very patient! Not me factor!!! Keep answering guys!