How long can an estate be kept open?
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How long can an estate be kept open?
My dad died almost 4 years ago. He left his home to my sister and myself, equally. The home has been listed for sale for 3 years and we got our first offer and my sister rejected it even before I knew about it. The buyer came back with a better offer and my sister still won’t take the offer. What are my rights?
Asked on July 10, 2013 under Estate Planning, Colorado
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
I am so sorry for your loss and for the situation. Much more information is needed here but I am assuming first that your sister is the Executor or Personal Representative of the estate, correct? She can not do anything that will breach her fiduciary duty but if she believes that the offer is not on par with comparable sales in the area she can wait to sell. But then she can not make such a determination to wait if it is in contrary to the best interests of the estate and the beneficiaries - you. Can you speak with her about cutting your losses here? If not then you need to speak with an attorney about forcing the sale. Good luck.
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