Can an executor sell property to himself | buying out other beneficiaries
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- Опубликовано: 19 фев 2020
- You’re ready to watch this video because you have questions about can an executor sell probate property to himself, or questions about buying out other beneficiaries. In this video I tell you two stories about situations when someone close to the decedent, someone who's not a stranger, is interested in the probate property and wants to buy it for themselves.
The first story has to do with a probate situation where a domestic partner of the decedent wanted to buy the probate house. Although the attorney did not want to sell the property this way, the family did. The second story is about a woman and her daughter and two granddaughters who all lived in a house owned by the woman’s husband. When her husband died and the house went into probate, I worked with her and the attorney so she could continue to live in the home with her daughter and two granddaughters.
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Welcome to my RUclips channel. My channel provides information, stories, tools, tips, and advice to help you grow your real estate business by becoming a Certified Probate Real Estate Advisor.
I made the decision to focus on probate real estate I realized I needed a PLAN to figure out how I was going to market myself and to whom. Then I needed to PREPARE all the marketing materials - the letters, flyers, emails, scripts that I wanted to use. How was I going to PROSPECT for leads? Once I got a probate listing I needed to PERFORM, creating outrageously happy clients. Finally to sustain my growing probate real estate business I needed to establish ways to PROMOTE myself.
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I am NOT a lawyer or tax professional. The presentations reflect my own understanding of the underlying subjects. However, the presentation is based on my professional experience in the field of real estate. The information contained herein should NOT be used as a substitute for the advice of an appropriately qualified and licensed attorney, tax professional or contracted real estate agent/broker. The information provided here is for informational purposes only. You should consult with a professional to seek legal advice regarding your exact circumstances.
California DRE license #01218310
Makes sense to ensure that the family gets the most money for the estate, regardless of who buys it.
You handle these situations so professionally. Love hearing success stories and the strategies behing them. Thank you!
I appreciate that, thank you for watching!
Great job handling those questions Kim. Kind of a sticky wicket question you raise here. That executor would be wise to hire an agent who is up on estate and probate real estate.
Thanks, this is just the reality of probate real estate. Having an agent who can navigate the ups and downs of the process with knowledge about the subject of probate is SO important. Thank you for watching!
Helpful info Kim! Thanks!
That's a great topic.
Thank you, we try to be as innovative as possible with our video topics. Sometimes you have to think out of the box a little, and put yourself in your clients shoes. Thanks for watching!
Love your videos, always learn something new. Thank you!
I'm so glad, thanks for watching!
Wow! That’s a crazy scenario and glad it worked out and all agreed.
Every real estate transaction is unique, esspecially when the loss of a loved one is involved. Probate real estate is very rewarding but also keeps me on my toes. Thanks for watching!
Another great video by the probate expert. Thanks for sharing!
Glad you enjoyed it!
Good info... thanks!
Glad it was helpful!
Very good information. Thanks.
You're welcome, and thank you for watching!
great info for beneficiaries!
If you ask me it makes no sense, just lawyers and probate lawyers trying to make money. The person taking care of the estate (executor) and living in that house for years, should be able to buy the house for almost nothing.
Would the NOPOA situation with the domestic partner be the same if being sold to the administrator with not putting the hose on the market and just agreeing on a price?
But the title said about the executor buying it himself….
So, let's say an older son who lived with his mother, who recently died, and took care of it for ten years, can't buy the house, makes absolutely no sense, these real estate rules and laws are ridiculous.
I don’t know why ANYONE canNOT buy any house. It’s not a matter of being barred from it. Just not given first refusal. Personally I’d hate someone living there automatically being given “rights” to buying it. I’m dealing with it now. But if it’s just about being ABLE to buy it, no problem.