[WSBAPT] PR as purchaser of estate property

[Diane J. Kiepe]

The first place you want to start is with the LLC operating agreement - the PR may already have one being a member and if not should request one.  If one does not exist, and therefore the entity is governed by RCWs, there may be some consideration given to the amount the decedent held (or of course all owners can do a unanimous consent).  I don't think court intervention is necessary if the operating agreement is followed and/or there is an appraisal which supports the sale price.

With that being said, that's my off the cuff thoughts -

Diane J. Kiepe

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Morgan Madison
Sent: Wednesday, September 14, 2022 11:43 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] PR as purchaser of estate property

Listmates:

Decedent died owning membership units of a multi-party LLC owning real property. The named PR was one of the other members. The LLC is offering to purchase the decedent's membership units. How can the PR best protect themselves in this transaction (as PR of estate and member of the LLC purchasing the units)?  Should the PR seek court approval of the sale?

Thank you!
-Morgan

Morgan K. Madison
ATTORNEY



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