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We are the beneficiaries and are asking the executor/trustee

Customer Question
Hello We are the beneficiaries and...
Hello
We are the beneficiaries and are asking the executor/trustee to sign this letter below to ensure the property he is selling from the estate is not sold for less than the amount promised verbally by him.
When signed would the contents of this letter be accepted as a legally binding document please?
Thanking you in anticipation.
Executors and deceased names and addresses will be added.
Do the beneficiaries names need to be on the letter please?
LETTER BELOW
To the beneficiaries for the estate of the late ***** *****.
As executor and trustee of the late ***** *****s estate, I agree that I will not sell or dispose of in any way, the property......address...... for less than �100.000 / One hundred thousand pounds with or without planning permission and with all legal costs to be met by the purchaser.
Yours sincerely
Submitted: 2 years ago.Category: UK Law
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Answered in 5 hours by:
10/13/2015
Solicitor: Clare, Solicitor replied 2 years ago
Clare
Clare, Solicitor
Category: UK Law
Satisfied Customers: 34,698
Experience: family solictor with 25 years experience
Verified

Hi

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further information please

Have the Executors actually agreed to sign this?

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Customer reply replied 2 years ago
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Solicitor: Clare, Solicitor replied 2 years ago

Have the Executors actually agreed to sign this

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Customer reply replied 2 years ago
Hello.The executor has not seen the letter yet. We would like to know please if the letter we sent you which is from us the beneficiaries will be legally binding or will there need alterations?The property is soon to be sold and the executor has not been cooperative.....we are not sure we can trust him to do the right thing and feel he may sell it for less. He is selling the property for his own valuation to his own chosen purchaser which we are going to accept and we feel we need some guarantee that he does sell the property for the correct amount that he verbally stated to us the beneficiaries. We are going to ask him if he will sign the letter so we have some assurance we will get the amount he verbally quoted us. If you would view the letter which we would like him to sign please and advise us that if he agrees to signs..... will the letter be legally binding?
Solicitor: Clare, Solicitor replied 2 years ago

There is no basis on which the Executor can be forced to sign this letter - and if he seeks legal advice he will be told to tear it up and ignore it.

It is also highly unlikely that it would be enforceable

As an Executor he is under a duty to sell the property for the going rate and if he does not do so then he is personally responsible for the dhortfall

If you need further details please ask

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Customer reply replied 2 years ago
We have been advised that he is selling the property for well well below the market value. We are having to accept this and just felt that if he was prepared to sign the letter out of decency for our reassurance and it wouldn't be sold for even less, that the letter would be legally correct. It has been two years and he has not put the property on the market nor kept us informed with no correspondence... in short, he has not carried out his fiduciary duties in many ways. We wanted this resolved without taking things further, which is why we thought if he just reassures us in written form that we the beneficiaries will receive the amount he verbally quoted. It does not look hopeful for this though!
Solicitor: Clare, Solicitor replied 2 years ago

Have you had a valuation done or spoken to the Estate Agent involved?

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