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Sure you're liable for it. But it's the difference between paying everything upon granting of probate or some after you've finally sold the house.
The system is screwed, if there's no cash but an expensive house in the estate how do you pay the probate bill, I'm pretty sure my parents had to cash in savings at the time then take the extra money from the sale compared to their siblings.
Grumpy_Git-
if there's no cash but an expensive house in the estate how do you pay the probate bill
I'm pretty sure you get a grace period. I can't remember the exact details.
EDIT: Not quite. You can pay in annual instalments (up to 10) which will lessen the impact. When the property sells you then have to pay the full amount.
aggi
my mum and her siblings are currently selling my late granddad's house - said something about being liable for tax on anything above the valuation if it sells for more..?
not sure if that's something different, or she's got mixed up?
fwiw, house is about 600k