Radfordman
pfm Member
My Mother died in 2013, and left the family home to be divided between my Sister and myself, or to be sold. The grant of representation was issued in 2014, and a valuation was reached that was acceptable by the District Valuer and signed by the Probate Officer. My Sister subsequently sold me her half of the house in 2019 for a price far higher than that valuation.
I have recently discovered that my Sister is of the opinion that Probate has not been concluded, as she maintains that the executors bank account which is in her name has not been divided, and that when I bought the house from her he we had not been registered as the joint owners of the family home..
I believe that as the house was essentially owned by us both, no real error occurred and we are both happy with the outcome. When we sold and bought the property that was left to us in the will.
She is concerned that as she has not divided the monies in the executors account, probate is not complete.
Questions
1. Are there any legal complications with the house not being registered prior to the sale, it being owned by the estate?
2 Does the extra money paid for the house be included in Probate because we did not have it registered in our names, and thus incur more Inheritance taxes?
3 Is the executors account a real issue, does that constitute Probate being still open?
4 Can we just divide the money in the executors account which has been included on Probate and call it a day?
I have recently discovered that my Sister is of the opinion that Probate has not been concluded, as she maintains that the executors bank account which is in her name has not been divided, and that when I bought the house from her he we had not been registered as the joint owners of the family home..
I believe that as the house was essentially owned by us both, no real error occurred and we are both happy with the outcome. When we sold and bought the property that was left to us in the will.
She is concerned that as she has not divided the monies in the executors account, probate is not complete.
Questions
1. Are there any legal complications with the house not being registered prior to the sale, it being owned by the estate?
2 Does the extra money paid for the house be included in Probate because we did not have it registered in our names, and thus incur more Inheritance taxes?
3 Is the executors account a real issue, does that constitute Probate being still open?
4 Can we just divide the money in the executors account which has been included on Probate and call it a day?