We have several potential buyers on a house that is in probate. Can we still sell? The attorney seems to be too busy to get things going and the clock is ticking on these buyers.
2007-04-09 14:45:52 · 7 answers · asked by Dawniee 1 in Politics & Government ➔ Law & Ethics
Myself and sister are co-personal representatives of the estate.
2007-04-09 14:55:34 · update #1
Absolutely, you can sell it. You two are the personal representatives and can do anything you want with the estate. The issue is whether the other heirs will protest the sale. If you sold it for fair market value, you have no liability. This is what you do: Go to a stationary store and buy a deed form. Re-title it as "Personal Representatives' Deed." Deed the property to yourselves as personal representatives of xxxxxx's estate. Then, choose your buyer and sell it. In my state, you do not need permission from the probate court after you've been appointed. You do have a fiduciary duty to the other heirs, so you must make sure it's a fair sale. This is how it's done in MY state. If your state has the Uniform Probate Code, it has the same rules.
2007-04-10 03:32:04 · answer #1 · answered by David M 7 · 0⤊ 0⤋
It all depends on the probate statute. If you have a Personal Representative or an Executor, most statutes allow that person to sell the property for cash without a court order. Provided, however, its not to an insider of the estate like an heir or someone related to the Personal Representative or Executor.
Check the law of your jurisdiction and hire a 2nd lawyer if you dont trust the first.
2007-04-09 14:52:47 · answer #2 · answered by krollohare2 7 · 0⤊ 1⤋
If there is a Will and the Will permits sale of the assets without order of the court, yes. Otherwise, you must look to your state law concerning powers of personal representatives. You may or may not need a court order. If you have already been named personal representative by the court (not just by the Will), you need to get going before you lose your buyer. If you have no court order naming you personal representative, perhaps you need to get another attorney rapidly.
2007-04-09 15:18:27 · answer #3 · answered by legaleagle 4 · 0⤊ 0⤋
If there was a Will, which I presume there was if there are co-executors, it should specify whether that is a power of the executor.
Whether it is or not, it's possible to request permission of the Probate Court to do it. It just takes a bit more to persuade them it's in the estates best interest if the power isn't there.
2007-04-09 15:12:50 · answer #4 · answered by open4one 7 · 0⤊ 0⤋
you can but it sometimes can turn into a bigger mess, depending on what state you live in,that makes difference on laws,but the court has to finialize everything, decide how its split up, then theres the title, don't know how far long you are on it,or where your at in the process,but most time it's better to wait,I know you really didn't want hear that but, unless you can get the attorney to fine on it,and bring the matter of it being sold up to the judge,there could be problems. Just (still) been thur one, this one was little worse cause it was indian land.
2007-04-09 15:08:13 · answer #5 · answered by Ed B 3 · 0⤊ 0⤋
you've tremendous questions, too many for the "classes' you're talking about. of course, heirs list their homes with Realtors like everybody else and anticipate to get accurate dollar- no man or woman provides their homes away. The course sponsors make their funds promoting you the course, if their plan became so tremendous, why would they be telling you at the same time as they'd be doing it finished time and making boatloads more suitable funds than promoting classes!
2016-10-18 00:20:41 · answer #6 · answered by ? 4 · 0⤊ 0⤋
no, talk to the probate lawyers and see what you can get moving. Sometimes that works.
2007-04-09 14:50:46 · answer #7 · answered by Anonymous · 1⤊ 1⤋