QUESTION
Can my Uncle sell his Mothers house under fair market value when the rest of the beneficiaries do not agree with the sale price?
Asked on Feb 07th, 2014 on Wills and Probate - New Jersey
More details to this question:
My Uncle wants to sell the house to his son....who has been living there rent free for 5 months without the rest of the beneficiaries consent. Now he wants to sell it to him for much cheaper then it is worth.
1 ANSWER
2 Awards
You can demand that an appraisal be performed to determine the fair market value, and challenge the sale of the house. The executor has a duty of loyalty to all of the beneficiaries, not just his son. The son will be required to pay rent for the time he occupied the house.
Answered on Feb 10th, 2014 at 11:55 AM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship