Rent a Property before Probate is Granted?
I am an executor of an estate that includes a property that is currently empty. Probate has been entered, but a caveat has stopped this process.
In addition to this, the title deeds are missing, so there could be many months before if and when probate is granted that the house can be sold.
In the meantime, may I rent out the property, with the proceeds going into the estate? It would make sense to use a letting agent to keep matters professional.
Who would I need permission from?
Many thanks
Mrs Scott
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Member Since August 2016 - Comments: 508
12:36 PM, 18th January 2022, About 4 years ago
First, why has the caveat been entered? Does the caveator impugn your status as sole/joint executor, and/or the Will itself? That could expose you to personal risk if you ‘meddled’ and proceeded on an otherwise sensible course of action? I am a retired solicitor with experience in this field and urge you to consider seeking professional advice for your reassurance and safety. Probate often seems easy on the face of the job in hand but caveats present a nasty trap for the unwary!
Member Since November 2017 - Comments: 263
3:40 PM, 18th January 2022, About 4 years ago
Your entering a minefield, tread very carefully.
You are within your rights to decline the executorship and / or hand it over to legal bods.
Blodwyn raises many very valid points.
Is it worth exposing yourself to the risk, all the bonafide cost can be covered from the estate, so your personal fiscal situation is not going to be affected in the long run. You may have to cover costs until probate is granted.
As you probably know, as executor you are PERSONALLY liable for any issue that arise from your executorship, even if someone else caused it but you failed to get it covered in writing.