Can assets of an estate be sold without the consent of all heirs?
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Can assets of an estate be sold without the consent of all heirs?
My cousin died intestate. The lawyer handling his estate notified some, but not all, of the heirs that the decedent’s home had been sold in a private sale for (not less than) 3/4ths of the appraised price. Is this typical or should all of the heirs have been notified prior to the sale of the sale price and to whom it was sold, if this was acceptable to them and also if any family member was interested in putting in a bid on the home as well? Is a 25% discount typical in a situation like this?
Asked on October 29, 2014 under Estate Planning, Kansas
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
I am so sorry for your loss and for the situation as it is. Generally speaking, if a person died intestate the knowledge and consent of all heirs would need to be sought to sell real property, unless the court ordered the sale. But even then you should have been notified of the request. I would speak with an attorney in your area on the matter. Good luck.
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
I am so sorry for your loss and for the situation as it is. Generally speaking, if a person died intestate the knowledge and consent of all heirs would need to be sought to sell real property, unless the court ordered the sale. But even then you should have been notified of the request. I would speak with an attorney in your area on the matter. Good luck.
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
I am so sorry for your loss and for the situation as it is. Generally speaking, if a person died intestate the knowledge and consent of all heirs would need to be sought to sell real property, unless the court ordered the sale. But even then you should have been notified of the request. I would speak with an attorney in your area on the matter. Good luck.
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