Need option on out of state inheiratance

[GregPerson]

Virginia/Florida

My mother owns 1/5 of land in Florida with other heir from the past. She has since passed away. I am executor of her estate in Virginia. I am to convey or sell property as I see fit. Land is only worth a few thousand. Land in that area is not selling. My mom has paid all taxes on land for past 30 years to avoid loosing it. What are my options?
Thanks.

 

[LdiJ]

Virginia/Florida

My mother owns 1/5 of land in Florida with other heir from the past. She has since passed away. I am executor of her estate in Virginia. I am to convey or sell property as I see fit. Land is only worth a few thousand. Land in that area is not selling. My mom has paid all taxes on land for past 30 years to avoid loosing it. What are my options?
Thanks.

Your options are to sell it or keep it and pay the taxes, just like she did.

 

[latigo]

Your options are to sell it or keep it and pay the taxes, just like she did.

Perhaps you would care to explain how an "Executor" of a will admitted to probate in Virginia is able to sell estate land situated in Florida.

And why, should appropriate ancillary proceedings be taken under Chapter 734 of the Florida Statutes and the will is admitted in that state, anyone would be so foolish as to purchase an undivided 1/5th of it?

The reason that you continue to paint yourself into these inextricable corners is because that you have never studied the floor plans. That, plus a pitiful lack of sense of character. Unless of course, we are to consider pretentiousness a virtue.

 

[LdiJ]

Perhaps you would care to explain how a PR appointed in Virginia is able to sell estate land situated in Florida.

And why, should appropriate ancillary proceedings be taken under Chapter 734 of the Florida Statutes and the will admitted in that state, anyone would be so foolish as to purchase an undivided 1/5th of it?

The reason that you continue to paint yourself into these inextricable corners is because you have never studied the floor plans. That plus a pitiful lack of sense of character. Unless of course, you consider pretentiousness a virtue.

I suggest that you re-read her post. If you cannot figure it out from that, then there is no point in debating.

 

[curb1]

Who are the owners of the other 4/5 of the property? Any communication with them?

 

[latigo]

I suggest that you re-read her post. If you cannot figure it out from that, then there is no point in debating.

I should have known that you would avert my questions with some feeble effort at parrying. It is typical of one attempting to preserve a false front.

 

[curb1]

Is OP the sole beneficiary?

 

[GregPerson]

Thanks. To shed more light...

Keep it or sell it. It is also my understanding that I can donate it to a charity. Anything I do, I need to do it so I am protected from all. I believe my options are split it up to other heirs, sell it and split money between heirs. None of these options are plausible solutions it seems. I could split land, none of the heirs will pay taxes and land will be lost, but does cover me and leaves me out of it. I could sell land that is wort less than $5,000.00. Wouldn't that turn into negative after pay lawyer and realtor fees? Or get heirs to sign over to my moms estate.

After my mother died, her one fifth pasted on to 2 surviving sons and 5 grand children. The other 4/5 totals about 20 blood related heirs. The 20 heirs do not seem interest and would be willing to sign away property. This seems to be the best course of action. How would I go about that? Do i still need to go through probate no matter what course of of action I take.

My mom also paid a large sum of money for taxes or the past 30 years. Is there any way to get that back?

 

[curb1]

Is the best solution to have the OP stop paying taxes and walk?

 

[GregPerson]

if it were soley my propery i agee, but...

if land went up in value couldn't heir sue me.

 

[GregPerson]

What happens if I take no action other than paying taxes.

Will land eventually fall into hands of newer heirs? Must I do a probate in Florida. Will the land in Florida effect estate in Virginia?

 

[curb1]

Does anyone want this property? There needs to be some communication.

 

[tranquility]

If the goal is the protect the OP/executor, the answer is to probate the property in Florida and distribute it to all appropriate beneficiaries. Will it be worthless or lost later? Probably. But, what else do you do? You might be able to get agreement from all probate for the property is more than it is worth. But, even then, there is risk.