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Can the executor of an estate set the price of the real estate of the estate?
In New York an Executor can set the price of the real estate of the estate. However the price should be close or at the market value. Oftentimes in New York an Executor must have the sale approved by the Court. The Court will then look to see if the price is reasonable. The Executor will have to submit various documents to support his request to sell the real estate at the price s/he he set (i.e. appraisal, tax assessment, etc.) So, the answer is yes the Executor can set the price, but oftentimes subject to the approval of Surrogate's Court.
Is it the executors right to pick the auctioneer that sells an estate?
That is within the responsibilities of the executor. They are responsible for the sale of the estate. As such they can do it through auction or private sale, as long as it goes for at least market price.
What causes house prices to rise?
Supply and demand is what causes house prices to rise. If there are few houses for sale, but many people looking to buy a house, the price of those few houses will rise.
The price of something?
the answer is sale
Does real estate sold to settle an estate usually sell for a low price?
Not necessarily. Estate real estate is like any other - based on location, location, location, condition, etc. Unless the sale is a distress for some reason. If there is an executor or administrator, or trustee, all of them have fiduciary obligations to the estate to get the best price possible.
Would the executor write the cheque out from sale of the house?
The executor is responsible for the sale of the house. They have a letter of authority from the probate court. That allows them to write checks and settle the estate.
Does executor have ruling over sale of house in an deceased estate?
Yes, the executor has the authority to manage and oversee the sale of a house in a deceased estate. The executor is responsible for handling the deceased person's assets, including the sale of property, according to the terms of the will or state laws if there is no will. The executor must act in the best interest of the estate and its beneficiaries.
Who signs for the sale of a house to be split between the 3 heirs when one of the heirs is the executor only the executor or all 3 heirs?
The executor has the Letter of Authority to conduct the sale. No one else has to be involved.
Can you sue a person that has sold a house without checking with the executor?
Yes, you can certainly sue for that. The executor can go to the court and have the sale nullified. Only the executor can transfer the property of the estate.
Can the executor spend money from the trust to fix up the house that is in trust prior to the sale?
Not on your nellie!
Does an executor get paid for the sale of a property based on time of death value or actual sell price?
The executor normally doesn't get paid based on the sale of property. The law normally allows them to choose a time for the basis of value.
Can the executor of an estate set the price of the real estate of the estate?
In New York an Executor can set the price of the real estate of the estate. However the price should be close or at the market value. Oftentimes in New York an Executor must have the sale approved by the Court. The Court will then look to see if the price is reasonable. The Executor will have to submit various documents to support his request to sell the real estate at the price s/he he set (i.e. appraisal, tax assessment, etc.) So, the answer is yes the Executor can set the price, but oftentimes subject to the approval of Surrogate's Court.
Does executors credit affect sale of decendents house?
The credit of the executor has no bearing on the credit of the estate. It is not his property in question.
As sole executor of mothers will do I have the final say regarding the sale of her house i have a brother and sister who will be entitled to one third of the sale?
SALE? Sale is the amount of money received by a firm by delivery of Goods/product.it is known as sale
Can the executor of a will force the sale of a property at a low price to benefit his business He is part of a consortium offering to buy the house at a low price Is this legal in Scotland?
They can only sell at a court approved price that reflects the real value of the property. There may be a conflict of interest. I'd consult another attorney.
Does the Executor answer to the Benificiaries?
An executor who is not benificiary, is he has apower to sale immovanle property?
If a home is left to siblings in a will can executor silbling set sale price to sell to other sibling?
Yes, the executor of the estate can make decisions such as this. it is usually best to talk it through if you are on good terms with your sibling.
