NSW Disposal of Assets by Executor of Will?

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Knightmare

Well-Known Member
17 February 2016
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In meetings with the executor of my late mother's estate, the executor of will has agreed in principal to dividing assets between beneficiaries on the basis of value as opposed to sale of assets and distribution of cash proceeds.

Specifically, he has stated that I have the option of taking the residence, in which I am currently residing. I have not committed to the purchase of another property on this basis, and are therefore exposed to the prospect of forgoing purchasing an appropriate property, and having to purchase or rent an unfavourable property should the option be withdrawn.

I have repeatedly referred to the "agreement" in my emails to the executor but he has not made specific reference in replies himself, although the email trail demonstrates that he has received my emails which explicitly reference the agreement.

My question is, as I have made references in emails to which he has replied, and has not refuted, and as he has minutes of meetings in which he agrees to the above, at what point do I have a legal "contract" or at least have the option of legal recourse in case he reneges on the agreement?
 

Arche

Well-Known Member
20 March 2015
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419
You are not going to get far on breach of contract. There is no contract on the information given, just an agreement in principle.

Apart from anything else the executor has duties to all the beneficiaries, not just you.

Has probate even been granted?
 

Knightmare

Well-Known Member
17 February 2016
83
0
291
Yes it has. So, I cant hold the executor to account for loss of earnings or forgone acquisition?
 

Knightmare

Well-Known Member
17 February 2016
83
0
291
BTW: As I am maintaining the property apart from immediate expenses can I claim "personal expenses" relating to time expended?
 

Tim W

Lawyer
LawConnect (LawTap) Verified
28 April 2014
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Sydney
...at what point do I have a legal "contract" or at least have the option of legal recourse in case he reneges on the agreement?
Nowhere, yet.
Really, it's on you to solve this.
.
Either do an option deal to buy the house at $X price, at or before time Y,
or just get on with it, and make an offer to buy it immediately..
Or, just walk away and buy a house of your own.