[WSBAPT] Sale of real property to heir of decedent

[Jon M. Fritzler]

I would appreciate knowing how others advise their clients in the following
situation.  My client is the personal representative of an estate with
multiple residuary devisees. One or more of the heirs has expressed interest
in purchasing one of the pieces of real property that is part of the residue
of the estate. My client is obtaining a professional appraisal of the real
property in question. My client has non-intervention powers.  Would you
recommend that the personal representative get more than one appraisal of
the real property in order to further protect her against any possible
complaint by the devisees who do not purchase the property, or is one
sufficient? Also, my client did not bring this up, but if a relative does
purchase the property the estate will not need the services of a realtor and
will not have to pay a realtor's commission.  Is it appropriate to discount
the sales price paid by the relative by the amount that the estate would
have paid in realtor's commissions?

 

Sincerely,

Jon M. Fritzler

Attorney at Law

PO Box 61451

Vancouver, WA 98666

Tel. 360.818.4431

Eml  <mailto:fritzlerlaw at outlook.com> fritzlerlaw at outlook.com

 

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