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Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 29648
Experience:  29 years in civil, probate, real estate, elder law
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Hello. Im the executor of my mothers estate and one of two

Customer Question

Hello. I'm the executor of my mother's estate and one of two equal share heirs. My sister is the other heir. My mother's house was sold yesterday at foreclosure auction to a third party which was previously unknown to me. That third party is potentially willing to sell the house to me, not the estate, at a $7,000 profit to them. I in turn have been approached by anther previously unknown party who is potentially willing to buy the house from me later in the year. Are there any legal conflicts of interest if I were to pursue these opportunities?
Submitted: 11 months ago.
Category: Legal
Expert:  Ray replied 11 months ago.

Ray :

Hi and welcome to JA. My name is XXXXX XXXXX I will be assisting you tonight.

Ray :

You have the right as an individual to purchase the house from a third party who purchsed it at foreclosure.

Ray :

Here you are not buying it from the estate and your position as executor and those duties are really separate and unrelated to your purchase here as an individual.Based on what you present I do not see a problem with such a purchase.

Ray :

You are paying more than they paid, that makes it appear to be a legitimate sale from a third party.Again that appears to be a separate legitimate purchase.

Ray :

You are not hurting or even involving the estate or your duties as an executor.The estate here no longer owns the property it is a purchase from a third party.

Ray :

Again I do not see a problem here with you buying the property from a third party who purchased it in foreclosure.

Ray :

I appreciate the chance to help you.Please let me know if you have more here.It is not a problem.

Customer:

Hi and thanks. My sister already sued the estate and me as executor twice to have her trust fund released. I did nothing wrong and ultimately went against my mother's wishes by giving my sister her trust fund in a lump sum. That is all behind us now, but things will never be what they once were. I don't want to give any reason to have new problems.

Ray :

Overall anyone can purchase it here from a third party.You are acting as an individual.I cannot promise you that your sister may not object but you may have some great facts to assert if you have too.I mean its a legitimate sale for more than the third party paid.The estate really has no involvement in such a sale.

Ray :

I am so sorry you have had to deal with sister here.I know it can be hard when relatives are involved.

Ray :

But I think that you have the right to buy the property if you choose from a third party.Cannot see that she has grounds to claim anything improper.I wish you good luck with the sale.

Ray :

I appreciate the chance to chat here.

Customer:

Thanks Ray. Have a great night.

Ray :

You too and good luck with the purchase.

Ray :

If you can leave a positive rating when we are done it is always appreciated.

Customer:

Thanks and I will.

Ray :

Good evening.

Ray, Lawyer
Category: Legal
Satisfied Customers: 29648
Experience: 29 years in civil, probate, real estate, elder law
Ray and 10 other Legal Specialists are ready to help you
Expert:  Ray replied 11 months ago.
Thank you for your positive rating of my service to you. Let me know if you need more help or have future questions. I will be here for you. Just ask for me by name at the start of your question - "Ray" .


Best wishes and good luck to you.

If it is not too much trouble, when you receive a Customer Satisfaction Survey from JA/Pearl in a day or two, please consider rating me highly (9 or 10). It affects my ability to continue to assist you and other customers on JA/Pearl and would be most appreciated.

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