probate law

[sjfish]

this applies to Rhode Island law my father died one year ago today and left a will that states the the house can be
purchased by (in order by age) children named in the will that
would include my borther (the oldest). he stated his intent
to take the option to buy the house for $60,000 (as defined
in the will) the will clearly states that the money is then to be divided evenly by the remaining 4.
since declaring his intent, he has done nothing to buy the house
or pass the option on. the estate has no cash assets left (after paying funeral costs, hospital bills, taxes on the property, and insurance on the property). how long can he tie this up? in the
meantime, the house is empty so the insurance will triple this
coming year and the property taxes are due. my brother has hired his own lawyer to try to find a way to obtain the property
at no cost to him. the law office that wrote the will says we
just have to wait until he is ready to move on.

 

[advisor10]

SEPT. 25, 2001

DEAR SJFISH:

It's going to be virtually impossible for your brother to come up with a legal way to get the house for free--probate law is very strict that the assets must be disposed of EXACTLY AS THE WILL PROVIDES--he is only stalling you all and making you look like fools in the probate court.

Did the will make any provisions or give any instructions as to what would happen if he DOES NOT exercise his option? If it didn't, then it may have been poorly written. Give this brother a time limit--30 days--to make a serious offer on the house through a real estate agent, and if he doesn't do it, then start arrangements to sell the house to someone else outside the family.

You really do need to consult with a local probate attorney in your area and/or a real estate agent to figure out the best strategy to take care of this situation.

SINCERELY,

[email protected]

 

[advisor10]

SEPT. 26, 2001 (Wednesday)

Please allow me to correct an error in my previous posting yesterday--instead of selling the house to an outside party, of course it would be sold to the next sibling (in order), as you mentioned described according to the will's instructions.

The executor should probably ask the probate judge for written permission to sell the home just to make sure everything is legally proper before it is done.

SINCERELY,

[email protected]