Executor Selling House Below Market Value

Are you an executor of an estate that is selling property below fair market value? If so, we may be able to help.

When someone passes away, their estate goes through a legal process called probate. This is when the executor of the estate (the person responsible for carrying out the deceased’s wishes) is given authority by the court to sell the property.

The executor ensures that the property is sold for fair market value. However, in some cases, the executor may not get fair market value for the property. This could be for a number of reasons, such as:

Yes, the executor has the authority to sell property belonging to the estate. However, they must adhere to state laws and the terms of the will. Some guidelines must be followed in order to ensure that the property is sold for fair market value. The property’s appraised value must be used as the starting point for any negotiations with buyers. Estate assets must be sold promptly, as delays can impact the property’s fair market value.

Yes, the executor has the authority to sell property belonging to the estate. However, they must adhere to state laws and the terms of the will. Some guidelines must be followed in order to ensure that the property is sold for fair market value. If the executor sells property of the estate for less than fair market value, they may be held liable. A law firm can help you determine if the sale of your property is fair and in compliance with probate law.

No, the executor does not have the authority to decide who gets what property. That decision is up to the beneficiaries of the estate. Regardless of who the beneficiaries are, the executor is still tasked with selling the property for fair market value. Selling real estate property can be a complex and time-consuming process. Family members may not agree on the sale price, or there may be disagreements about who gets what property. If you’re facing these challenges, it’s important to seek legal guidance. An experienced attorney can help you navigate the probate process and ensure that the property is sold for fair market value.

It’s important to understand the difference between executor and beneficiary rights when selling property in probate. The executor is responsible for selling the property and ensuring that it is sold for fair market value. The beneficiaries are the ones who will inherit the property. They do not have any say in how the property is sold or to who it is sold. The estate’s assets will be distributed according to the terms of the will. A probate attorney can help you understand the executor’s and beneficiary’s rights during the probate process.