First, we must understand that the responsibilities of the liquidator are significant. It is not an easy task and we must also bear in mind that most of the time, the liquidator of the succession is someone that was close to the deceased and this person must reconcile their role with their emotions. It is for these reasons that certain people will name an independent third party to execute this task, an odd number of liquidators or will foresee the nomination of an arbitrator to avoid impasses.
The Civil Code of Quebec determines the responsibilities and obligations of the liquidator.
- The liquidator administers the property of the succession;
- The liquidator may sell the property of the succession under certain conditions:
The property is too expensive to preserve; or
The property is perishable; or
The property is likely to depreciate; or
The liquidator has the consent of the heirs;
- The liquidator must act with prudence, diligence, honesty and loyalty;
- The liquidator must not place himself or herself in a conflict of interest;
If the liquidator makes unreasonable decisions, hides information or administers the succession inadequately, any interested person may ask the court the obtain compensation and/or the removal and replacement of the liquidator.
So be cautious! Acting as the liquidator to a succession must not be taken lightly.
Whether you are the liquidator of a succession, an heir or an interested person going through some issues related to a succession, we invite you to communicate with one of our lawyers who will be able to help you find a solution!
Article written by Me Nancy Drolet, associate lawyer