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Estate has been open over 2 years. Executor just signed fiduciary deed on the family home over to the 4 beneficiaries.
Anonymous3 views3 answers
Deed has been filed and recorded. My question: I have asked the other beneficiaries to buy me out of the family home over 1 year ago, this request has been ignored. So for the past 2 years the house has been empty but has been made available for anyone to visit or vacation...all living expenses paid by the estate since the utilities have remained on to include telephone. There has never been any talk about selling the house. I thought an estate could only fund costs on real property if this property was up for sale. Now, with the deed filed & recorded.....is it lawful for the estate to continue to fund these expenses? Executor says the estate has control & will fund the bills until the real estate transfer goes thru?? I think he is trying to pull the wool over my eyes. Thanks
You are correct that once the house is owned by the new owners the estate should not be carrying the costs. Although depending on the beneficiaries and the arrangement it might continue to be practical for the estate to handle such things. If the estate paying these expenses is to the detriment of a beneficiary then you have an issue - you also have to review the will/trust to determine if this was intended.
As to your question about buying you out: No one is obligated to buy you out and everyone would have to agree in order to sell the property, practically speaking. Technically if you are all tenants-in-common one person could sell their interest but who's going to buy a house with three people they don't know?
It sounds like the real estate transfer HAS gone through so the siblings should be carrying utilities, insurance, etc. Sounds also like you should have your own lawyer.
Joseph M. MasiukEstate Planning AttorneySouthampton, PA ·
As Mr. Zelinger has suggested, your own lawyer could perhaps "light a fire" under the others regarding the need to sell. If not, you may discuss with your lawyer something called an "Action in Partition" which is a type of court proceeding designed to have the court sell the property and divide the proceeds.,
Upon the owner's death, the realty, by law, becomes the property of the beneficiaries under the Will, subject to the executor's administration of the house for estate administration purposes. The executor, in theory, should not have been pauing the expenses for the property from the estate since there was no attempt or intention to sell the property. On the other hand, as an owner by reason of being an heir under the Will, you would have been responsible for your share of these expenses pursuant to the proportionate inheritance share of the property. The executor should account to you for the amount spent on the property with a break down for category of expense.
The second attorney who answered your question is correct. You can force your share of the property to be "sold" and paid to you through a Complaint in Partition filed with the Court. This lawsuit will either force the other owners to buy you out at the appraised value of the proeprty, or the property will be listed for sale and sold to a third party.
You must confer with an attorney to review your options on how to proceed to "cash out" your share of the property.
