I wanted to sense-check and make sure I am not missing something.
I am acting for a client who is the sole proving executor of an estate, and probate has now been obtained in their sole name. There is a second named executor, but power has been reserved to him and he does not wish to act.
The estate includes real property, and so two trustees will be required to give a valid receipt for the sale of land. My understanding is that this is not an issue: the proving executor can proceed and appoint a second trustee by deed for the purposes of the sale.
On that basis, I do not believe the executor with power reserved needs to renounce, nor is it necessary for him to join in the transaction. Is that correct?
Grateful if you could confirm that aligns with your understanding.