QLD Deceased Estate - Rights of Executors and Beneficiary?

[Brynie]

I need help understanding what rights my brother, myself and my son have to my deceased father's house. From my understanding, my brother and myself are executors of dad's deceased estate until my son turns 35 years old and inherits the house (he is 14 yrs old now).

My brother and I both want to keep the house to be passed on to my son but it is an old house and needs some renovations to maintain the property. I am guessing as we are the executors and not the beneficiaries that we have no rights to the house and will not be able to use it as security if we wanted to borrow for the renovations it needs? Is this the case? Is there any way around this? What are our options?

 

[Rob Legat - SBPL]

What powers and abilities the executors have is largely determined by the terms of the will. While there are powers you would generally expect to see, it's impossible to tell without an understanding of what the testator wished to be done in respect of the property. You may need to engage someone to give you advice as executors if it is not apparent to you from the terms of the will.