If I am a co-executor of a Will and property is being left to 5 children but 3 of the children do not agree with the list price, do they have any recourse?

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If I am a co-executor of a Will and property is being left to 5 children but 3 of the children do not agree with the list price, do they have any recourse?

Asked on November 15, 2011 under Estate Planning, Pennsylvania

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 ensuing problems that have resulted in the probate of the estate.  What the executors needs to do is to get help from a "professional" in the form of a real estate agent.  You need to get a date of death appraisal of the property with comparables -  houses in the area that are like the house here and what they sold for.  If the death was recent then the appraisal and the comparables will be enough for you to judge what the sale price should be.  But you and the other executor do have the ultimate "last word" to make a decision on the sale.  And as long as you are not low balling the property to the point that you could be accused of being in breach of your fiduciary duty then that is that.  Good luck.


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