house purchase from an estate

[klkaylor@mac.co]

What is the name of your state? CA
My wife is the trustee of an estate in which we necogicated a settlement value for a house in the trust with the two other benificiaries in Sep 04. We have a signed notorized letter for the agreed upon value. While cleaning up the estate we found loans (two documented two not) to the same two benificiaries that were over 70K and not paid on as agreed (with interest the loans are almost 100K). They now refuse to sign over the house unless we write off their loans from/to the trust. As the market for houses in So Cal has been wild and the value of the house has gone up since sep they say that the agreement is not valid and are trying now to make us sell the house on the open market or pay the new value. Any advice? The also signed a rent free agreement but now want to back out on that as well!!!

[JETX]

Originally Posted by klkaylor@mac.co

What is the name of your state? CA
My wife is the trustee of an estate in which we necogicated a settlement value for a house in the trust with the two other benificiaries in Sep 04. We have a signed notorized letter for the agreed upon value. While cleaning up the estate we found loans (two documented two not) to the same two benificiaries that were over 70K and not paid on as agreed (with interest the loans are almost 100K). They now refuse to sign over the house unless we write off their loans from/to the trust. As the market for houses in So Cal has been wild and the value of the house has gone up since sep they say that the agreement is not valid and are trying now to make us sell the house on the open market or pay the new value. Any advice? The also signed a rent free agreement but now want to back out on that as well!!!

Clearly, this is far too complex an issue for an online forum. I suggest you take all the documents you have to a local attorney who can review them and advise what options, if any, you have.

[HomeGuru]

Originally Posted by klkaylor@mac.co

What is the name of your state? CA
My wife is the trustee of an estate in which we necogicated a settlement value for a house in the trust with the two other benificiaries in Sep 04. We have a signed notorized letter for the agreed upon value. While cleaning up the estate we found loans (two documented two not) to the same two benificiaries that were over 70K and not paid on as agreed (with interest the loans are almost 100K). They now refuse to sign over the house unless we write off their loans from/to the trust. As the market for houses in So Cal has been wild and the value of the house has gone up since sep they say that the agreement is not valid and are trying now to make us sell the house on the open market or pay the new value. Any advice? The also signed a rent free agreement but now want to back out on that as well!!!

**A: the estate clearly needs an attorney. Hire one.

[klkaylor@mac.co]

estate has had two, they have one, I have a separate one - no one so far has been able to work through this mess.
four lawyers, four opinons no answers, thought someone might have a bright idea or a name of a different lawyer

[HomeGuru]

Originally Posted by klkaylor@mac.co

estate has had two, they have one, I have a separate one - no one so far has been able to work through this mess.
four lawyers, four opinons no answers, thought someone might have a bright idea or a name of a different lawyer

**A: I agree with JETX.