Executor & Beneficiary wanting to occupy deceased's property

[rowleyburkin]

Grateful for any views on this scenario...

I am the executor and main beneficiary of a property belonging to an unmarried/single person with no dependents who lives alone in the property.
There is a still a mortgage on the property and the owner has some credit card debts (owner has no savings).
The will specifies a few cash amounts to friends and the remainder to me.
If I wanted to take ownership and live in the house rather than selling it I'd have to pay off (or take on) the mortgage and pay all the estates debts/legacies out of my own pocket and then get the property transferred over to me. I don't believe there will be any IHT to pay and I couldn't afford to buy the place outright on the open market.

Is this broadly how it would work ?

Also how would it work if the will specified percentage amounts to others instead of cash amounts ? Would the percentage be calculated on the remaining value of the estate after the mortgage/debts/funeral expenses and legacies had been paid ?

Thanks

[AGoodman]

Yes

It depends on the wording but probably yes