[WSBAPT] Sale of real property to heir of decedent

[Mark Higgins]

John--this is a high risk proposition, because there is so much opportunity
for estate beneficiaries to complain.  I would have the pr insist on
agreement of all, both as to the identity of he buyer as well as the price
(including discounted for lack of commission) and terms.  If somebody will
not agree that is the first clue that storm clouds are brewing.​

Mark

On Mon, Nov 2, 2015 at 10:01 AM, Jon M. Fritzler <fritzlerlaw at outlook.com>
wrote:

> 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 fritzlerlaw at outlook.com
>
>
>
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-- 
Mark T. Higgins
Mark T. Higgins, P.C.
P.O. Box 57
Darrington, WA 98241
206-491-2420
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