What are an executor’s rights to purchase estate property?

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What are an executor’s rights to purchase estate property?

My father passed away and named his live in partner the executor of his estate. She did not wish to take it on so I (his daughter) took over the responsibility. I have 4 siblings and wish to purchase the house at fair market value. Is this possible or do I need consent from all family members as I am now the executor?

Asked on February 18, 2014 under Estate Planning, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

You need the consent from all the heirs (anyone who stands to inherit the property), since all the property owners get a say in its disposition. If most but not all consent, the ones who want to sell could bring a legal action to force the sale of the property on fair terms. Buying the property without the consent of all heirs could land you in trouble--it could be seen as  breach of the fiduciary duty you owe as an executor.


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