If I am the sole beneficiary of real property in a will but someone else is named the executor, can I liquidate the property? (California)
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I am the sole beneficiary of real property in a will but someone else is named the executor, can I liquidate the property? (California)
If I am the sole beneficiary of real property in a will but someone else is named the executor, can I use the IAEA to get the executor to liquidate the property for me outside of the court process? Or do I need to wait until distribution to sell? How does that work?
Asked on May 12, 2009 under Estate Planning, California
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I'm not sure what you're referring to by the "IAEA" -- and the executor, as a fiduciary, would be taking a very real risk by doing anything not authorized by the California Probate Code and the court. In any case, a firm answer to your questions would have to be based on a reading of the will itself. So, if you want to pursue this, you need to take the will to a California wills and estates attorney. One place to find qualified lawyers is our website, http://attorneypages.com
That is not to say that having the property sold by the estate isn't possible; the estate's expenses directly related to the sale could be deducted from the proceeds distributed to you. You would probably have to get the executor, and quite possibly all of the other beneficiaries under the will, and the court, to agree to this ahead of time.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.