My sister is the executrix of my father’s estate. He was a non resident of Sarasota Florida. Four sisters are equal heirs of the estate. The executrix listed the only Florida asset, a condominium, with a realtor. My other sister and I want to purchase the real estate for $57,000. The executrix is requiring that we pay the estate 100% of the sales proceeds, $57,000. The estate has $35,000 cash and another house in NH worth $200,000. Why do we have to pay her when the estate is liquid? We would like the $57,000 deducted from our share of the proceeds of the estate. There are no mortgages/debts. Is she correct in requiring us to pay the full price when we own half of the property? We do not think we should have to pay out any personal funds. Is this required by Florida law? Thanks
Sorry for your loss. I am licensed to practice law in both New Hampshire and Florida. I have offices in both Salem, NH and Naples, FL. I assume for purposes of my answer to your question that your father was a New Hampshire resident. I am not aware of any New Hampshire or Florida law that requires the fiduciary to proceed as such (sell real estate in a decedent’s estate to a legatee at the full price instead of at a reduced price based on the legatee’s respective share of the real estate as an inheritance). As the other attorney recommended in his answer to your question, I also recommend you work with an attorney to try to keep the peace with your siblings but to represent your interest in the proposed transaction.
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The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida, Waltham, Massachusetts, and Salem, New Hampshire.