Probate investing - profits - Posted by Praveen

Posted by John Merchant on April 28, 2007 at 12:02:42:

Depends a lot on whether the Ex’r is “independent” meaning he was so named in the Last Will being probated…or not.

I know some states’ probate systems and laws so allow, but maybe not all states and you’d have to read the Will being probated to see if your Ex’r is or is not.

If he is Ind. Ex’r he doesn’t need court permission to sell or convey whatever he wants.

If he’s not, he would need to Motion the probate court to sell or convey any assets, and the beneficiaries might well decide to oppose such a move.

Even if the bens. didn’t oppose it, the Judge could on his own, decide he does or does not like that idea so could quash it.

The probate judge is going to do whatever’s best for all beneficiaries if the Ex’r is not Ind.Ex’r.

Probate investing - profits - Posted by Praveen

Posted by Praveen on April 27, 2007 at 02:15:37:

If an executor or Personal representative is willing to sell the house for 50% of the value, then how should this be achieved.

Should this be approached in a specific way to accoplish said results. What happen if this scenario occurs when executor is represented with a lawyer and without lawyer.

What should be best approach?

-Praveen Mishra