If my father-in-law recently passed away leaving a house and property, what can be done if the beneficiaries do not agree on a selling price?
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If my father-in-law recently passed away leaving a house and property, what can be done if the beneficiaries do not agree on a selling price?
There are 5 siblings and my wife and 1 sister are named as co-personal representatives in the Will. A buyer for the property has been found and 4 of the 5 siblings agree that the price is a fair market price, however 1 sister feels it is extremely low. Do my wife and her sister have the authority to complete the sale over the objections of the fifth sibling?
Asked on May 29, 2015 under Estate Planning, Washington
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
I am so sorry for your loss. You wife and her sister have the final say BUT they should protect themselves and get an appraisal of the property by a real estate expert in the area if the last sibling will not agree on the price. Even an infrmal appraisal is fine (but a value is generally needed for probate) and look to see what comprable houses are selling for in the area. Good luck.
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