Legal Question in Wills and Trusts in California
Rights of benificiaries
Grandmother passed away 2 years ago and devided her house (owned free and clear) to a group of people. I receive 10%.
One uncle is living in the hourse and another uncle is the executor. Now the executor wanted to sell the house to the uncle who lives in the house for the price below market value(20% ~ 30%). His reason is that's the price the buyer can afford and he doesn't want the house fall to other's hand. I tried to talk to him to be fair to others, but was not successful.
With only 10% if no one else joins me, can I force the sale? If yes, what's the procedure? If not, what are my options to get my fair share?
3 Answers from Attorneys
Re: Rights of benificiaries
If this is in probate, you can object to the sale. You should receive notice of the court hearing for the sale, OR a "Notice of Proposed Action" with no court date, depending on the powers the executor has. Either way, you need to object to the sale--get an attorney to help you with this.
Also, the sales price usually has to be at least 90% of the probate referee's appraisal price--has the inventory and appraisal been turned in yet with this figure?
Re: Rights of benificiaries
your rights may depend on the wording of the trust but generally you are going to have to go to court to enforce your rights. you should have a lawyer review the wording of the trust.
Re: Rights of benificiaries
I assume the estate is still active, and the property is still owned by the estate. If so, then it depends on whether the executor has to sell the house in open court. If he does, you must file objections to the price and terms, or if it such a good deal, buy it. If you got a document called Notice of Proposed Action, then there will be no open court review of the sale, and you must file your objection with the court. There are short time limits that apply, and probate court is very technical. It may be worth it to sit down with a knowledgable attorney and discuss the estate and your options.
NOTE: Please understand that the information provided in this reply is for informational purposes only and does not create an attorney-client relationship. It also may not be complete, and is designed for general information to parties under California law. Before you make any decision that might possibly have legal implications, you should consult with our office, or another qualified professional, so that thorough legal advice can be provided in a manner that relates to your specific circumstances. Thank you.
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