Can one trustee hold up the sale of property if the others agree on a sale price?
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Can one trustee hold up the sale of property if the others agree on a sale price?
Property that was recently inherited by 4 siblings; 3 want to sell but 1 one doesn’t. Can the 1 stop the sale by refusing to sign sale documents?
Asked on December 31, 2011 under Estate Planning, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
From what you have written, if real property is in the name of the trust or deceased person where there are four beneficiaries as to this real proeprty, the sale of the parcel could be held up by the one hold out. Likewise, if title is in the name of all four beneficiaries, the hold up can be even longer.
Assuming title is not yet in the name of the beneficiaries, then there could be a petition to the court for the court order of the sale of the property or have the one hold out buy out the other parties' interests in the property.
I suggest that you consult with a Wills and trust attorney about your current situation and the best way to resolve the impasse that you have written about.
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