[WSBAPT] Will Restriction on Heirs buying house

[Heather deVrieze]

Almost certainly TEDRA would allow parties in agreement to get around this provision.

The client might be able to find an investor now who might be interested in buying a right of first refusal or similar. Of course an heir willing to bid up said investor could still get the property.

What about selling it now, while retaining a life estate?

Heather

Heather S. de Vrieze
Attorney-at-Law
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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Marvin Benson
Sent: Wednesday, December 06, 2017 4:07 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Will Restriction on Heirs buying house

Wouldn't a TEDRA get around any such restriction?

Marvin Benson

On Wed, Dec 6, 2017 at 3:54 PM, Eric Nelsen <Eric at sayrelawoffices.com<mailto:Eric at sayrelawoffices.com>> wrote:
I think it would work. It in essence restricts the power of the PR to sell the property, by specifying that it can only be sold to someone other than an heir. The heirs have no inherent right to inherit or to purchase the house.

In its plainest form the clause could be evaded by, say, an heir forming an LLC and using the LLC to purchase the property. But the clause could be elaborated sufficiently to prevent that as well.

Sincerely,

Eric

Eric C. Nelsen
SAYRE LAW OFFICES, PLLC
1417 31st Ave South
Seattle WA  98144-3909
phone 206-625-0092<tel:(206)%20625-0092>
fax 206-625-9040<tel:(206)%20625-9040>

From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> [mailto:wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>] On Behalf Of Christina Faucett
Sent: Wednesday, December 06, 2017 1:35 PM
To: wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Will Restriction on Heirs buying house

I have a client who asked me if I could put a provision into his will that none of his children could buy his home from the estate after he passes away. (He wants his children to share equally in the estate, but for a personal reason, doesn't want any of them to own the house.) Off the top of my head, it seems like such a provision would be unenforceable. Any thoughts?


Christina Faucett
Attorney at Law
faucettlegal.com<http://faucettlegal.com>
(206) 650-2420<tel:(206)%20650-2420>

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