UK Property Law
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This is the Third Property of My client going under the hammer without consideration of getting money owed to me should I win my case neither are the executors consulting the family. Can I or will I be able to stop this Auction sales. On top of this the executors have not given the account of the proceed of sales of the two properties. The auction will proceed on the 4/6/13. quick reply please!
They do not have to account for the properties as they sell each one but can wait until they have completely wound up the estate until accounting to beneficiaries.However if you are owed a debt by the estate then they have a duty to pay it unless the debt is disputed.In that case I would ask the executors to give an undertaking to retain the full amount of the debt until the dispute is resolved failing which I will apply to court to stop the estate being distributed.
I hope this covers your situation if not please reply.
There is already court action in prpgress in respect of money owed do i still need to contact the executors to detain money owed or the court process serves serves as a warning.
The court process would serve as a warning to the executors, if the executors fail to retain sufficient money to pay your debt then they could be personally liable to pay it, which they will not want.
The executors of my client estate are asking the beneficiaries for indemnity to challenge my claim in court if not they will apply to court for order that the payment should come from the estate if they lose. I have on the other hand written to the beneficiaries not to commit themselves to any signing. I am right to do that? or are they right if they go to court and ask for order?
Secondly: There are seven beneficiaries from the siblings; however two are deceased with 12 children between them. Are these 12 children counted as beneficiaries when it comes to decision of instructing the executors of their opinions or counted as 2 opinions when seeking the general consensus in decision making ?
he executors of my client estate are asking the beneficiaries for indemnity to challenge my claim in court if not they will apply to court for order that the payment should come from the estate if they lose. I have on the other hand intend to write to the beneficiaries not to commit themselves to any signing. I am right to do that? or are they right if they go to court and ask for order?
Secondly: There are seven beneficiaries from the siblings; however two are deceased with 12 children between them. Are these 12 children counted as beneficiaries when it comes to decision of instructing the executors of their opinions or counted as 2 opinions when seeking the general consensus in decision making ? This question is taking long to answer
Are you a beneficiary of the estate or just a creditor?
Creditor and inlaw
This question is taken ages to answer now. I have replied to say creditor since the 13/06/13
I must apologise I am actually on holiday and picking up replies when I can.
There is nothing more that the executors need to do if they have asked for and received indemnities from the beneficiaries because that way should you sue the executors they can recover from them. In the circumstances you cannot prevent the estate being wound up because you can sue the executors who in turn would try to recover from the beneficiaries.
The beneficiaries have majority in supporting of payiing what is owed to the estate but exeecutors are adamant in going to fight the case. Is it ok for the executors to outweight the decision of the beneficiaries?
This executors were the deputy before the deceased and no account has been submitted since 2011 and 2012 when is supposed to be annual.Could you tell me how this can be obtained
Yes , because you are a creditor of the estate and it falls to the executors not the beneficiaries to administer the estate. The beneficiaries are just that, the persons intended to benefit and they do not have the power to ensure a creditor is paid.
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