[WSBAPT] estate pay costs of repairing home, making it marketable, where PR is purchaser?

[Bryce Dille]

You better have 'as is' appraisal and also opinion as to FMV with improvements and get approval from the other heir or get court approval not only to use the funds but also to buy the property since we have self dealing.

Bryce H. Dille
Dille Law, PLLC
2010 Caton Way SW Ste. 101
Olympia, WA 98502
Office: 360-350-0270
Cell: 253-579-5561

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Business Entity Creation and Management, Business, Government and Tax Law, Real Estate and Land Use, Residential, Commercial and Condominium Development Real Estate and Commercial Transactions & Closings, Including Performing Services as IRS Section 1031 Exchange Facilitator Estate Planning, including Wills and Trusts, and Probate Administration Representation Homeowners/Condominium Association Real Estate Developments Real Property Foreclosures and Forfeitures.

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Sharon Rutberg
Sent: Thursday, May 4, 2023 4:50 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] estate pay costs of repairing home, making it marketable, where PR is purchaser?

Hi, folks -

PR is a 50% beneficiary in an estate where the main asset is a house. It is worth about $1 million but needs basic work before being saleable - broken heat pump, bad roof, other issues. The PR wants to purchase the other beneficiary's share of the house and has the funds to do so. Acceptable to use estate funds to do the basic repairs to make the house marketable and then do the "sale" to the PR for fair market value?

Many thanks,
Sharon

Sharon C. Rutberg, Attorney at Law
Salmon Bay Law Group, PLLC
1734 NW Market St.
Seattle, WA 98107
206-735-3177, ext. 2
sharon at salmonbaylaw.com<mailto:sharon at salmonbaylaw.com>
Website: www.salmonbaylaw.com<https://urldefense.proofpoint.com/v2/url?u=http-3A__www.salmonbaylaw.com_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=ZjJT61sMYHYXW1a7W0qvaz-zO3o_Ea2RRxXvW5Yr3-0&m=6bHqaD5ZPkIc_leocOISn62rawmW8YnUAj8jb63gtEU&s=uDM1rjGSNxKStChYFr9zXfbVMWNyOR3JJrerrwXJ7z0&e=>
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