[WSBAPT] Probate: Sale of House

[Josh Grant]

Sales to a non-intervention PR must be approved by a judge.  Get the appraisal, do a P&S contingent on court approval, make a motion to approve sale in open court after notice to everyone.  If judge is satisfied and signs the order, end of story.

Josh

From: Melinda Grout 
Sent: Monday, May 23, 2016 8:33 PM
To: WSBA Probate & Trust Listserv 
Subject: Re: [WSBAPT] Probate: Sale of House

Clearly the PR is in a difficult fiduciary position when also an heir.  I always have that conversation with the PR if something like this comes up.  I strongly encourage the PR to consider whether the proposed action could in any way be seen as a conflict, as even the appearance of conflict can cause lots of problems, and then to bend over backwards to keep it entirely transparent.  I’ve even helped a client run the numbers on the net to the estate with 3rd party buyer closing costs vs. without those costs, and then voluntarily add some $$ to the price PR pays, just to show good faith.  Always, of course, offer the other heirs the chance to purchase… 

This does come up often enough, either with the PR or with the resident heir wanting the home.  Use a similar process for that heir too, so other heirs are able to see there is no favoritism.  Also use this process if there is a neighbor who’s been waiting to get a great deal once the owner dies.  

Btw, assume you know that if/when the home does get listed for sale, the listing agreement needs to specify the initial offerer as an exception, so that the commission only applies to any buyer the agent brings to the table.



Regards,

Melinda Grout
Law Office of Melinda K Grout, PS
17325 W. Main Street / P.O. Box 1360
Monroe, WA  98272
360-794-4322  / Fax: 425-744-6745

Emphasizing Estate Planning, Probate, and Elder Law
mkgroutlaw.com

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