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What happens if 2 out of 3 beneficiaries agree to sell and the third does not?
Wiki User
∙ 13y ago
When land is under co-ownership of two or more people who cannot agree on what to do with the land, any owner can file a Petition to Partition in the appropriate court.
The court has the power to divide the land if that is feasible such as when there are multiple tracts or a single large tract. If dividing the land is not feasible then the court can order a sale and the net proceeds are divided according to each owner's interest after the costs and expenses associated with the Partition have been deducted. You should consult with an attorney who specializes in real estate law.
Wiki User
∙ 13y ago
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Can an executor sell house against wishes of beneficiaries if liquidation of the house is not necessary to cover estate expenses or taxes?
If the power to sell real estate was granted in the will then the executor has the power to sell it. However, if ALL the beneficiaries agree that the property should be retained they should insist the property not be sold. Remember that the beneficiaries own the real estate. If the executor proceeds to try to sell the property the beneficiaries should petition the court to review the matter ASAP.
Can executors sell a house willed to seven beneficiaries where two beneficiaries do not want it sold?
If two of the beneficiaries want to keep the property then they should try to work out an agreement with the remaining beneficiaries to buy out their shares for a fair price. However, the executor may have the power to sell the real estate. The testator often gives that power right in the will. In that case, the executor may sell the property without any license from the court. If the power to sell was not granted in the will the executor must apply for a license to sell the real estate. The two beneficiaries may object to the sale. However, they should be prepared to offer an alternative since five of the beneficiaries do want to sell. Unless they offer to buy out the other beneficiaries the court is likely to issue the license to sell.
Can the executor sell property without all beneficiaries approving in Virginia?
The executor of an estate always has the ability to sell property if allowed by the will. As long as the court agrees, the desires of the beneficiaries is secondary.
Can executor sell house against beneficiaries will?
As long as the court agrees, yes they can. The beneficiaries cannot prevent the estate from being settled.
Can the estate executor who is one of the beneficiaries decide to keep a property when the other beneficiary doesnt want to own it?
Sure, but the other person doesn't have to keep it and can sell their share either to the executor or to a third party.
Can the executor sell the property without all beneficiaries approval in South Africa?
The beneficiaries don't get to make the determination. As long as the court is satisfied, the executor can do so.
There are 3 trustees to mothers trust Two including myself want to sell going off the appraisal the other beneficiaries also do But the third trustee does not What can you do as a trustee also?
the matter can be referred to a court for advice and directions.
Can the executor sell the estate without the knowledge of the beneficiaries in India?
no way not in a million year's.
If 2 siblings agree to sell a home and the third does not can we force the sell of the house?
I think you should care about the 3rd sibling and try to talk him/her into it with the reasons that are good. And maybe the 3rd feels attached to the house.
Can an estate sell real estate in Florida or do the individual heirs have to sell it?
The executor has the ability to sell the property. It is subject to court approval. They can also transfer the property to the beneficiaries. In which case they can then sell it.
Does a estate property have to be sold?
No, as long as the debts are resolved without having to sell it, it can be transferred to the beneficiaries.
If a person is on medicaid and they die what happens to their time share property?
It becomes a part of their estate. It will be valued and the executor will have to either sell it to pay debts or transfer title to the beneficiaries. In most cases it will have to be sold to pay any debts that exist.
