What is the name of your state (only U.S. law)? WI
I am executor for my brother-in-law. I have paid creditors of notice - the ones who filed with probate court His house would net $165,000 if sold by a Realtor. Even though the tax assessment is for $200,000, it was in a terrible state of disrepair and nearly unmarketable. I have put many hours and much sweat into fixing it up on my own. The remaining mortgage is $135,000. Can I sell this house to the heir - his mother - to pay off the mortgage? If yes, at what price? I want to close this estate. One extension has been granted already - but the family would like to keep the house. I guess I can not buy it as I do not want to be accused of "self-dealing."
I am executor for my brother-in-law. I have paid creditors of notice - the ones who filed with probate court His house would net $165,000 if sold by a Realtor. Even though the tax assessment is for $200,000, it was in a terrible state of disrepair and nearly unmarketable. I have put many hours and much sweat into fixing it up on my own. The remaining mortgage is $135,000. Can I sell this house to the heir - his mother - to pay off the mortgage? If yes, at what price? I want to close this estate. One extension has been granted already - but the family would like to keep the house. I guess I can not buy it as I do not want to be accused of "self-dealing."