Will Modification

  1. Can a legal will be modified by the beneficiaries if they all collectively agree on modifying the will after the demise of the person who made the will ?
  2. If this cannot be done, here is a situation I need help with. A woman made a will, where she left a flat for her 3 silings (1 of whom has passed away), and then after the demise of the 3, it transfers to a nephew. However, there is an outstanding loan on the flat, so for the will to be probated, the loan has to be paid off, but the 2 siblings cannot pay off the loan, but the nephew can. The nephew wants to modify the will, in order to pay off the loan, so he gets 50% of the flat, as security for paying off the loan. If the will cannot be modified, what can be done to secure the nephers interests in return for paying off the loans ?

I want to add, that the nephew does not know what else is outstanding as a loan against this flat. Also, the flat does not have a share certificate in the demised aunt's name yet (since the society was not formed). The nephew wants iron-clad protection for paying off the loan, and agreements with the 2 surviving beneficiaries may not provide this protection, since they do not own the flat at the moment. If the flat has been provided as collateral or security someplace, the nephew has no idea.




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