I need some opinion/advice, please. There are 4 executors (all siblings) to the will of our late mother. We are also the beneficiaries. The will states that all assets are to be divided equally in value to the 4 beneficiaries. The issue we have is that one of the executors/beneficiaries residing in a house left to the estate. There is a mortgage on this property which all of us are paying.
There is no rent being collected at the time of our mother's passing (utilities and upkeep of the property were paid by the family member). 1year and 10 months have passed and decisions are required since we are still paying for the mortgage but not receiving an income from this asset. The family environment has turned toxic on this matter from an amicable relationship dividing up previous assets.
The question is, do the other 3 executors have the right to request market rent to be paid whilst the 4th executor decides if they want to buy the house or sell it? And if we do have that right, what if that person refuses to agree as an executor or pay the rent?
There is no rent being collected at the time of our mother's passing (utilities and upkeep of the property were paid by the family member). 1year and 10 months have passed and decisions are required since we are still paying for the mortgage but not receiving an income from this asset. The family environment has turned toxic on this matter from an amicable relationship dividing up previous assets.
The question is, do the other 3 executors have the right to request market rent to be paid whilst the 4th executor decides if they want to buy the house or sell it? And if we do have that right, what if that person refuses to agree as an executor or pay the rent?