I am the co executor of an estate with 3 siblings living in the property.
They are all beneficiaries. The house is to be kept for 8 years under the will as long as people wish to live there and are responsible for maintenance. The original intent of the statement was need to live there. All siblings are working. It is 12 months into the 8 year allowance.
The condition of the property is deteriorating. Leaking roof, mould, lots of asbestos in the walls etc which would prevent renovation. They are also hoarders which is another problem attracting vermin.
There are repairs required of between $50000-$100000.
No one can afford this amount of money. The property has land value only.
What responsibilities do we have as executors regarding the health and safety of those living in the house?
What if they do not agree to maintain the house, and will not move out what can we do?
They are all beneficiaries. The house is to be kept for 8 years under the will as long as people wish to live there and are responsible for maintenance. The original intent of the statement was need to live there. All siblings are working. It is 12 months into the 8 year allowance.
The condition of the property is deteriorating. Leaking roof, mould, lots of asbestos in the walls etc which would prevent renovation. They are also hoarders which is another problem attracting vermin.
There are repairs required of between $50000-$100000.
No one can afford this amount of money. The property has land value only.
What responsibilities do we have as executors regarding the health and safety of those living in the house?
What if they do not agree to maintain the house, and will not move out what can we do?
