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as an executor and beneficiary, if the house is on the market can i still purchase it with no recourse ?
this situation, there are 3 siblings, 2 live in the house. the will is not yet probated and when it is the sibling that does not live in the house stated either house be sold or one or both of other siblings purchase the home. the intent is to take appropriate steps to buy out the sibling not living in the house. my main question is if this sibling is difficult and feels her share is not adequate based on proper evaluations etc..... her recourse can be to arbitrate or force sale? if this is so, is her sole expense to pursue?
or does the executor have to comply to the one third when 2 thirds want to buy not sell?
what part are you not getting, I AM ONE OF THESE 3 SIBLINGS, ONE THAT LIVES IN THE HOUSE..
ARE U TELLING ME THE EXECUTOR ROLE IS MY ONLY ROLE AND I HAVE NO RIGHTS AS A BENEFICIARY????
i am not in conflict of anything as i have not done anything as of yet.... once the will is probated the titles do not go to the 3 beneficiaries, the will gets registered. this will give me as executor a certificate to either sell the property/pay off debts etc. which does not put me in serious trouble. however, how can you say i need to stay clean, what i am doing is not wrong.
what i am asking is that 2 of the 3 beneficiaries have decided to purchase the property (one being me). Are you saying I have to step down as executor in order to accomplish this?
All I am asking, is in the event the 3rd beneficiary who wants to be bought out by the way, does not agree on the price, being the same amount everyone is getting based with 2 house evaluations. this 3rd beneficiary may think the house is worth more, i am asking what recourse do the 2 beneficiaries have to settle this. it would not be fair to pay the third beneficiary more, would it?
should this be treated as a shotgun clause, if the 3rd does not agree on the price that the other 2 ask to be bought out or does this get legal. And if so, if the 3rd beneficiary decides to go to arbitration or court, who is liable for those costs, the estate or the 3rd beneficiary solely?
You keep responding to me that if i am being unfair... and that as a beneficiary/executor I have less rights to my share.
by the way we are in Ontario not BC. would you be able to provide answers to those specified questions???