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My brother is the executor of my dads will. All four of us…

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My brother is the...

My brother is the executor of my dads will. All four of us children are beneficiaries. He is selling dads house and not informing two of us siblings about what is going on. For example as far as we knew the house was for sale at 425.00, originally 440.00 but we all agreed to drop the price but that was as low as we would go for dad to get his money back as he added improvements to the property. I have just found out that an offer has been made at 350.00 and my brother has countered at 365.00. I called the real estate to query why the price had dropped and he had been in contact with my brother 3 weeks ago and they agreed to lower the price and my brother asked the real estate not to pass the information on to us. I have now asked for him to hold back on any more offers as I may be able to afford it at 350.00 vthere abouts and he said he wi

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

New zealand!!

Lawyer's Assistant: Has anything been filed or reported?

Not regarding a sale

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Yes i am interested to know is he has the right to not inform us or to solely make the decesion on the sale when we are all beneficiers

Submitted: 7 months ago.Category: New Zealand Law
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Customer reply replied 7 months ago
I asked to him hold back on accepting more offers as i may be able to purchase it at 350.00 ( because as far as i knew the asking price was 425.00) but i will need some time to contact my accountant and a mortage broker. his reply was that he will consider all offers that come in and i will need a sale and purchase agrement to be considered
Answered in 2 hours by:
11/17/2017
Solicitor: Chris The Lawyer, Lawyer replied 7 months ago
Chris The Lawyer
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Solicitor: Chris The Lawyer, Lawyer replied 7 months ago
The executor should keep the family informed of the progress, so as to keep this open and transparent. But you can of course make an offer for the property and perhaps see if your share could be the deposit.
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Customer reply replied 7 months ago
Thank you, As executor (and a beneficiary ) of the will - does he have the final say on what the house sells for or does he have to run it buy the other beneficiary's first?
Solicitor: Chris The Lawyer, Lawyer replied 7 months ago

The executor does have the right to make a decision, but as a beneficiary he has some conflict of interest, and as the executor he also owes a duty of care to the other beneficiaries to ensure that the property is sold at the best price. The best price depends on what the market would pay for the property of course. It is best to consult with the beneficiaries therefore to avoid any suggestion that the price is too low or high

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Customer reply replied 7 months ago
Thank you, I have sent you a Market Analysis that my Dad got done before he died in June 2017, he was terminal and was going thru the process of selling his house.
I have spoken with my brother, the executor about calling a meeting with all of us siblings there to discuss a price of selling before he does anything. He wont call a meeting as he believes that we wont be in agreement about a price and there will be arguing so he wont do it.I know he discusses things with my sister while excluding my older brother and I and that he has deliberately did not informed us of the price drop back in October but informed my sister. It doesn't seem right.
He says now that he will hand things over to his Lawyer who will sort it and the lawyer will sell the house. Is that true or would the lawyer have to discuss things with all four beneficiary before making a decision?
Also what are the option of removing him as executor and what is to be gained or lost?
Solicitor: Chris The Lawyer, Lawyer replied 7 months ago

If you put the property on the open market, that is the best you can do. So if the lawyer is handling the sale on behalf of the executor, and the lawyer is instructed to get the best price, then the executor has discharged his duties. You can remove an executor but you would need to prove very serious misconduct such as theft or fraud. You cannot remove him just because his communication has been poor and he refuses to speak to you

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Solicitor: Chris The Lawyer, Lawyer replied 7 months ago

Do you think it would be worthwhile getting a mediator to sort out the issues between the family?

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Customer reply replied 7 months ago
Thanks Chris, How would I find a mediator - Great idea, if we can all agree on that!
With regards ***** ***** lawyer taking over the sale of the house..what if he isn't instructed to get the best price for the house? And just hands it over to be sold.
I know that the executor just wants it over and done with, and the real estate agent too as unfortunately he is in the middle.
Personally I think it will sell for more but they just don't seem to be prepared to wait, Summer has just begun, Opotiki is lovely
Solicitor: Chris The Lawyer, Lawyer replied 7 months ago

There are many mediators available, but of course everyone has to agree to have a mediation. I would hope the lawyer will encourage the agent to get the best price, and of course the more the agent sells for, the better his commission so he has an incentive to sell for a good price

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