Legal Question in Wills and Trusts in Kentucky
My mother-in-law recently passed away, and my husband's oldest sister is the executrix of the estate. In 2006, we purchased a car for my mother-in-law and now this car is considered part of her estate. My sister-in-law has advised that if we are interested in purchasing this car from the estate, we will have to buy it at blue book value. She is using the highest blue book estimate which is probably not valid as the car has high miles and is in rough condition due to cigarette burns and front-end damage. Is this our only option to obtain this car? We thought we could repair it and give it to our teenaged son, but not if we have to re-purchase this car at an inflated cost. Thank you for your time.
2 Answer from Attorneys
She's the executrix so it's pretty much her call, but if ultimately she can't sell it to anyone else for that price, she'll have no choice but to lower the price. I'd name your price and say, if you can't sell it for what you're asking, here's what we'll be paying.
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