Herald - Issue 427

v THE NEXT HERALD IS OUT ON 25TH AUGUST v 4th August 2022 • The HERALD • Page 61 ASK A PROFESSIONAL • Admin, PA & Phone answering • Bookkeeping & Accountancy • Digital Marketing • Podcast Studio www.adminno1.co.uk | 023 8202 9129 | receptiondesk@adminno1.co.uk Friendly, reliable, professional & here to help Bereavement is a terrible thing and it is o en a di cult time when you are also named as an Executor under a deceased person’s will. An Executor has the responsibility to administer and distribute the estate for the bene t of the named bene ciaries under the will. One such obligation may be the sale of the property. e initial steps in dealing with the sale of any property can be summarised as follows: 1. Obtain a valuation 2. Market the property 3. Sell the property ere are additional steps when dealing with an estate sale and which usually occur simultaneously: a. Value the estate b. Submit a HM Revenue & Customs return (and pay any inheritance tax due) c. Submit the application for the Grant of Probate (‘the Grant’) d. Obtain the Grant e property cannot be sold without the Grant and this can cause a headache for Executors. An agent marketing the property will be able to properly advise the best time and price to pitch the property. Over the past few years nding a buyer has been relatively easy. e issue lies in timing. Probate applications are generally taking 2-8 weeks to be processed and returned - depending on whether the application is digital, via post or the capacity of the Probate Registry. Any applications submitted to HMRC take an additional 4 weeks. A property which is marketed early on in the estate administration process may nd a buyer quickly but the Executors may take months to be in possession of the one document - the Grant - which can ensure the property passes to the buyer and the sale completes. An impatient buyer may nd another property in that time frame, or may lose their own buyer - causing the chain of property sales to collapse. A buyer may also nd their mortgage expires before the Grant can be obtained and be unable to renew or extend it if the requirements change in the meantime. Some mortgages are only 3-6 months which is an incredibly tight deadline to meet if there is a long chain with many buyers and sellers all trying to align their a airs. From past experience, I would recommend that the property is SELLING PROPERTY AS AN EXECUTOR by Lindsay Taylor, Senior Associate Solicitor, CGM Hampshire Lindsay Taylor, Senior Associate Solicitor marketed around the time that the application for the Grant is applied for. is allows the conveyancing process to progress and ideally a short a time as possible waiting for the Grant. ere is no fool proof time to sell the property but it is something that should be discussed with your conveyancer, Probate solicitor and agent to ensure that the sale runs as smoothly as possible. Lindsay Taylor is a Senior Associate Solicitor based at our Hythe O ce. For your conveyancing and private client needs you can contact CGM Solicitors on 023 8084 2765 for an appointment. South Western Railway (SWR) has announced the phased rollout of body-worn cameras for sta on board trains and at stations across most of its network. e cameras are being introduced to deter and reduce anti-social behaviour on trains and stations, as well as to act as a deterrent to assaults, threats and abuse experienced by sta . e cameras will be worn by guards, customer service assistants (including gate line sta ), rail community o cers, and revenue protection sta . Using existing CCTV cameras alongside the new body-worn cameras, SWR will be able to use both sources of footage to capture better quality evidence for prosecutions and cases in court. South Western Railway Rolls Out Body-worn Cameras to Improve Customer and Staff Safety