NSW Depreciation costs to estate

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Knightmare

Well-Known Member
17 February 2016
83
0
291
My mother's estate is in limbo after 2.5 yrs.

The executor has failed to either sell the estate or rectify items that reduce asset values - that is make changes to the real estate which would adversely affect the value of the land at auction. The executor and his agent are slowly trying to resolve issues with planners, council, drainage engineers etc.

The agent says that prices have dropped at least 15% since my mother's passing.

Can the executor be held accountable for all or part of the 15% drop?

Also, I am a permanent resident of the estate - as demonstrated by the recent probate decision. As such, what rights if any do I have regarding tenancy of the estate? The executor's lawyer claims I'm just a squatter and can be evicted at any time!

Tks.
 

winston wolf

Well-Known Member
21 April 2014
424
115
894
Adelaide
changefpa.com.au
Unless the executor does something criminal like stealing from the estate you have little chance of recouping costs.
If the executor is a bit slow or a bit stupid or lazy that is seen by the court as the testators choice.

keep being involved but don't expect the executor to be responsible for a drop in house prices.

If you not paying rent you dont have much protection and are staying at the executors pleasure.