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Ask Barrister Your Own Question
Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 36970
Experience:  16 yrs estate law, real estate. Wills/Trusts/Probate
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My dad passed away in may in s will he said everything is to

Customer Question

my dad passed away in may in his will he said everything is to be sold my youngest sister made an offer of 50,000.00 to the sister in charge i made an offer of 60,000.00 more money but the same deal as my younger sister the one in charge will not sell anything to me that i have ask for because she says that my dad told her he didnt want me to have his house because of my dog i had too many do i have a legal recourse especially since the tax value is around 210,000.00
Submitted: 1 year ago.
Category: Estate Law
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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Are you saying that it is the house that you are both bidding on for $50K and $60K respectively?

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And it is appraised at over $200K?

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Is there some reason that the executor is not listing the house with a realtor to obtain the maximum amount possible?

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thanks

Barrister

Customer: replied 1 year ago.
the house has a tax value of 210,000.00 it has a mobile home on it and two buildings one is a small movable building the other it a old tobacco barn turned into a wood working shop and a three bedroom one bath living room kitchen back room and back closed in porch made into a room for the freezer it is a jim walters home built back in the early 70's needs some work what are my recourses if my sister buys the home she does not want her part of the 50,000.00 i made the same offer but more money i offered 60,000.00
Customer: replied 1 year ago.
are you there
Expert:  Barrister replied 1 year ago.

Sorry for the delay, give me a moment to respond to your post..

Expert:  Barrister replied 1 year ago.

Ok, the executor has a legal and a fiduciary duty to the beneficiaries (i.e. you and sister) to protect assets and obtain the highest possible price for them when directed to liquidate them in a will. The exception is if all the beneficiaries agree to allow any sale to occur for less than fair market value.

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With that said, if you disagree with the proposed sale, and the executor is moving forward with it, you can file a formal objection with the court and allege that she is breaching her fiduciary duty by not having an appraisal conducted and then listing the property with a realtor for sale or putting it up for public auction where anyone, including you, could bid on the property. If a sales price can't be agreed on, then the judge will normally just order an estate auction of the property at absolute auction to the highest bidder.

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thanks

Barrister