You do not state if there are other assets in the estate to pay probate expenses. You also do not state if the house was granted to you and your uncle as a specific bequest or as a residuary bequest. The type of bequest makes a difference in whether your share of the legacy can be used to contribute to the purchase price immediately. Other factors relating to estate creditors and the ability of the estate to pay its obligations are also involved. You should consult with an attorney to determine the best way to proceed. You can purchase the property out of the estate in the same manner as any other purchaser. You would pay market value, as determined by the executor. If you and your uncle are the sole heirs of the estate, and there are no creditor issues, the determination of value can be more casual. If there are other heirs the determination of value must be more rigorous to protect the executor.
Answered on Jul 06th, 2017 at 10:39 AM