Need suggestion

I already wrote something about my sister-in-law being the executor of my husband's parent's will. She told my husband that she wants to sell the property by owner. They are in a small town where you can't as easily inform others like you can in the city. Presently she is residing in the house until it is sold. She has no knowledge,or money, to be able to sell the property and house properly and let everyone know about it but putting it in the MSL listing book,etc. From what I know about her, she would love to stay at the house and keep the property. They are asking no less than $200,000 for the 35 plus acres and all the buildings on the land. She and her husband, who doesn't work, wouldn't have the money to split and give to the other siblings. Our real estate broker is to talk to her and go and see the land and and see what he can do for her. She is very controling. One of my questions is that even though she is the executor,when is comes to selling their parent's property,don't the other siblings have a say in how it is sold? She would save more money by having a realtor sell it for her and her not having to deal with paying all the legal fees to get it sold,when and if it does sell.

Thanks,
Judy

First, let me say there must be a reason she was chosen as the executor of the will, and given this responsibility. It doesn't mean she is capable, necessarily, but it is what the deceased wanted. You don't mention if the siblings are mentioned in the will--does it state the property should be divided equally, or does it state that the sister is allowed to take the property, sell it, keep it, as she sees fit and keep the profit or divide the profit as she sees fit?

Also, the use of a realtor is not a given that the home will sell, and, in fact, can cost thousands. I have personally bought and sold a half a dozen homes without a realtor--and it took no particular experience on my part. Obviously, a realtor provides expertise--at a cost. So, if the bottom line is money--unless there is a rush to sell it, what can be harmed by running an ad in the paper, putting a sign in the yard, etc?

If you feel your husbands interest in the estate is not being properly represented, then you can hire an attorney, yada yada yada. However, when the sister goes to court, she will have to prove she followed the directives of the will, as well as the proceeds from the estate.

When my husband died recently, I sold two vehicles in his name and donated one ( a van able to be adapted for wheelchairs) to a non-profit organization who provides this service. When I go to court, I will have to give an accounting of the money from the sale of the other two vehicles--this is not my money, per se, even though we were married for twenty years. Those cars were in HIS name alone--I had no financial interest in them, nor did I have any interest in keeping them.

The point is--I didn't sell them and KEEP the money, even though by law, as his wife, I arguably could. The money goes into his estate, and after his debts are paid, any money left then comes to his heirs. If I were to take the money and pocket it, the judge would certainly question me.

The same with the house in question. If the will says equal division, then that is what the judge expects to see when the estate is closed. If not, she will remedy what has been done to adhere to the will and what she believes is best.

What "legal fees" are you referring to? In this case, there shouldn't be anything the administrator incurs as an expense that isn't reflected as a standard seller cost on the settlement statement and then paid at closing. That should include such things as survey, transfer fees (if required), any inspections required by the city/county (if required,) termite inspection and the like, for examples. If any repairs are required, unless your sister-in-law as the executor has to pay for completion upfront, the contractors, etc. again should be paid out of the proceeds at closing. She could be reimbursed for that type of expense from the estate, if she presents a bona fida receipt and evidence of payment. Remember that real estate attorney I mentioned some time ago? Who better to keep an accounting of all closing bills to be paid? (Head's up, attorney fees also may be included.) Is your administrator qualified to make sure title is cleared correctly at closing? (Something for all the beneficiaries to consider.)

Before your real estate "friend"/former agent gets involved too much in this transaction, I'd strongly suggest you get something in writing specifying how much the "help" is going to cost the estate. FYI: typical real estate commissions average 6% and that'll also be paid at closing, further reducing your husband's (& other beneficiaries) net proceeds. You also mentioned the MLS...that most likely will involve another real estate agent for any purchasers and may take even more commission earnings from the sale. It's extremely rare that any real estate agent does a favor, personal or professional, that doesn't cost someone (the beneficiaries, in this case) at some point in time. You may feel more comfortable putting the sale into the hands of a professional; just be aware of the potential cost involved. Get it in writing. Have an attorney review any paperwork that "friend"/former agent hands you, if you're unclear about any aspect. This isn't a typical sale, but the sale of an estate and as such, your husband/other beneficiaries isn't the seller, the estate (i.e. the administrator) is. He/they don't have the usual control or even day-to-day awareness of everything that transpires with the house and/or sale. Obviously, this isn't a typical FSBO situation and obviously, I certainly wouldn't rely on anyone else's prior experiences. Your state may have different statutes and given the hysteria in the real estate market, those (including my own personal experiences) are both irrelevant and outdated.

Your comments re: your sister-in-law are a bit "pointed" and once again, I'd suggest that if the other beneficiaries are concerned about the administration of the estate, they request specific, detailed periodic accounting statements. They're entitled to that. Personally, I find the administrator living an the estate property a bit irregular and would definitely want to see activity on a regular basis as part of her fiduciary responsibility. That being said, I also think she's trying to carry out your former father-in-law's interests by limiting the expenses involved in the sale. (Real estate commission.) If not using a real estate agent, I'd suggest all beneficiaries involved discuss the actual time-length involved and make their wishes known. Again, if the beneficiaries wish either a change or modification to the administrator and/or administrator responsibilities, they can petition the courts ... with, of course, a probate attorney's help.

Again, good luck to you and your family.

My husband was first chosen to be the executor but he didn't want the responsibility. His sister was the next in line to be offered to be executor. She took it. The only thing is that no one in here understands what she is capable of doing. If she can so much as to file charges against her own brother's wife for a chart cut that she received,there is no talking what she could do with this. No one has to answer this. Just wanted to explain myself. Bottom line,I just don't completely trust her after all that she has done to me and others. She is basically a sheep in wolf's clothing. Even her own sisters are upset with her. That is enough from me. I could go on and on. I will keep the two of you informed at how things are turning out.

Judy

I'll keep my fingers crossed this works out in the end. Hopefully when it's all said and done, your father-in-law's wishes will be fulfilled. Good luck.

I wonder if this property is still on the market. Regardless, there are some inaccuracies that need to be corrected.

First, a realtor would not do business for money without a signed contract stating all the details. Second, the going rate for services can be 6%, but in a down market it might be 7% for single family... but 10% for land. A seller's broker would have to share the contracted 6 or 7 or 10% with a buyer's broker... the broker on each side would then split with the agent who did the work. The amount is only what is contracted for- usually represented as a percentage of sale price in the contract but it might be a set fee if it is a discount broker. Without the contract, the agent won't collect anything. After all, this is real estate where all transactions relating to the property MUST by law be in writing.

As to what your sweetheart of a sister-in-law can do, it is pretty simple. She can price it too high for the market. She could agree to sell well under the market and take a kickback on it. She can live in the house so it appears unlivable and gross so that is WON'T sell. She can withhold information from potential buyers so that they won't trust the viability of the house... or she might give information meant to bar the sale. She can literally stop the sale by her actions. You need to have this reviewed by the probate judge. But you might want to send a friend to look at the property to see what information she IS giving first. Putting aside your obvious animosity is going to be hard, but really, your husband didn't want to do this job. Aside from her previous action AGAINST YOU, do you have any reason to think she wants to usurp the value that should be split?

She could strip the property of valuable amenities. She could strip the property of any remaining contents. So if they move out, you should be sure your husband is there to ensure nothing leaves that doesn't belong to her. I'm sure he knows what was in there.

I would want someone to live there until the property sells. Sounds like it is in the country and might not be protectable if nobody lived there. It is a small farm and might not be graced with a nice house, but then again it might have lots of interested folks. You should get an accounting of showings... including names of everyone who went in. Later you can use that log to investigate whether she was working to sell or working to stop the sale. Give her three months just like you would give an agent. Then check out her activity... but PLEASE... don't use that sharp tongue against her to the people who have gone to see the property. You could kill a sale in the making.

Will get her out of the house first and then take care of cleaning up the house,etc. Do you think that they should have a policeman there to watch what she takes?

Like I said before, this is a miniature soap opera!!

Judy

You should have a family member there who is familiar with the previous contents of the house. The policeman can make it impossible for her to take items they say are not hers. Good idea.

How do you know it needs cleaning? Have you been there? Like I said, please begin to curb your animosity or you will find yourself shooting that foot you stand on. Judges and police don't like it... and YOU will suffer for saying negative things.

Don't worry, I won't even be there. His 2 sister's can handle it just fine. I will remind them again about making sure the they have the police there. Even if she did take a lot of her dad and mom's things really isn't the issue, it is because she is being dishonest what she is doing. Thanks for your helpful opinion.

Judy

I won't even BEGIN to point out the LEGAL aspect of all of this ---for example--there is NO legal basis for the police to be there. They have NO jurisdiction or right to stop a woman from moving out of a house---AND they don't have any authority to "watch what she takes"---they aren't babysitters. They aren't arbitrators. Unless they are executing a Claim and Delivery, or enforcing a court ordered eviction you cannot just CALL them like errand boys to appear and witness her moving out.

Also, something else very interesting about all of this---if you were so concerned about all of this, why didn't your husband accept the responsibility in the first place? If you "knew" she was such a terrible irresponsible, dishonest person, it should have been predictable how this would turn out. Does your husband care about this at all, or are you beating this drum still ( for a year on this forum, at least). If it mattered so much and you wanted to dictate how it should be, why didn't he accept the responsibility himself?

I am not saying this woman is right. I am simply saying, you have objected to everything in the world she has ever done ----if that is the case--and she is so inept, why didn't you or your husband or for that matter ANYONE else who "knows how she is" step forward?

Bottom line--the police cannot be called out to 'witness she doesn't take anything"---how would they know what is hers, yours, the deceased, the neighbors? that isn't the JOB of the police and is a flagrant waste of time and taxpayers money. If they are there purusant to a court order, sure, but just calling them to add some "muscle" to your squabbling? be prepared for them to say a resounding NO.