Selling a Deceased Property in Hendon Golders Green Finchley and Hampstead

Often the property in Hendon Golders Green Finchley and Hampstead needs to be sold. However the sale cannot be completed until the Grant of Probate has been issued as it is only at this point that the executors have title to sell. This is frequently something that is not understood by the executors or beneficiaries in Hendon Golders Green Finchley and Hampstead who instruct Roundtree Real Estate agents and is not made clear to the potential buyers. It can take many months, even years, to obtain the Grant and so a buyer may not wish to hang around – very frustrating for all involved.

It is however possible in Hendon Golders Green Finchley and Hampstead for contracts to be exchanged before the Grant of Probate has been obtained. This is because the executors would be held to be protecting the deceased’s estate. In this case the contract needs to be carefully drafted to state that completion will only take place once the Grant has been issued, with perhaps a long stop date so that the buyer does have a chance to walk away if the Grant is not forthcoming. NB not all buyers (and their solicitors!) are prepared to proceed on this basis.

It is important to note that where there is no Will the administrators cannot do anything withthe assets, even market the property, before the Letters of Administration have been issued. It should be made clear to the buyer in Hendon Golders Green Finchley and Hampstead that they are going to be buying a property fromexecutors who will probably not have lived at the property and have no detailed knowledge. In fact they may be able to give no information at all. The buyer must be prepared for this.

The executors in Hendon Golders Green Finchley and Hampstead are entitled to sell the property with limited title guarantee and there will be a statement in the Transfer Deed that they are only liable for the information that they provide in respect of the period since the date of death of the deceased in Hendon Golders Green Finchley and Hampstead. 

More information at http://www.property-for-sale-rent.co.uk

Roundtree Real Estate

39 Brent Street, Hendon, London, NW4 2ED

020 8203 2111

http://www.property-for-sale-rent.co.uk

http://www.theroundtree.com

Roundtree Real Estate

39 Brent Street, Hendon, London, NW4 2ED

020 8203 2111

http://www.property-for-sale-rent.co.uk

http://www.theroundtree.com