Charges for appointing of executor ?
Querist :
Anonymous
(Querist) 10 February 2011
This query is : Resolved
It has become necessary for me to appoint a executor for disposal of property in which I have 20% share. Pl. advice on my following querries:
1) How to ensure that the executor does not dispose off property at throw away price ? Can I fix a floor price and public auction route ?
2) What will be cost of execution and can it be deducted from sale proceed as I am forced to appoint executor as opposite parties are allowing me to sale the property as per consent term order of City Civil Court ?
Amit Minocha
(Expert) 10 February 2011
you may suggest some base price to the executor for the purpose of the auction. The cost of executor if appointed by the Court would be decided by the Court else if you have to appoint him , it is your mutual negotiation. But you cannot assume him to take from sale proceeds.
Querist :
Anonymous
(Querist) 11 February 2011
Sir, Thanks but there must be some norms for fee payable to executor when appointed by court and when it becomes payable? Once the executor is appointed how long does it take to dispose the property ? What happens if for some reason base price is not available for sale ?
