Legal Question in Wills and Trusts in Georgia
Selling Real Estate
I am the administrator of an estate. The only asset is a 1/4 share of land the decedent owned with his siblings as tenants in common. The estate is insolvent and the land must be sold to pay debt. Do I need an appraisal and can the siblings purchase the land from the estate. I am one of the siblings and also the administrator. Is there a conflict of interest for us to purchase this land?
2 Answers from Attorneys
Re: Selling Real Estate
Your question is outside the scope of this forum. If the affected estate/land are in Georgia, then you would be wise to invest in the assistance of a Georgia attorney to assist you with these details.
Re: Selling Real Estate
Your question is not answered by looking to where the land is located - it is where the estate is administered. One option is to clear the matter with everyone who has an interest in the estate.
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