Legal Question in Real Estate Law in Maryland
sale of real estate below value
my two minor grandsons were sole bene of father's estate which included 128 acres of land which in the prior four yrs had sold for $12,000 an acre. Pers Repr sold it for approx $1,900 an acre, w/o the approv of the court and sold it w/o sat lien that the mother had against the prop. Another part of the estate was a townhouse - the pers repr kept this vacant for a yr before getting approv from the court to sell it,with a cap of $95,000. This TH that was bought a yr earlier for $130,000 was sold at auction for $82,000. The terms of the sale was $7,500 cash or certified check. One bidder asked if she could use her credit card, the auct said no, however, the PR beckoned for her to enter the house and when she returned bid $82,000. The other bidder became irate and stomped off. This prop was sold w/o sat a lien. The mother and the minors were never made aware of any of the sales. Did the PR have the right to deny the heirs the opportunity to live in a house that they inherited. Incidentaly, the debts of the estate were minimal - no reason to sell.
1 Answer from Attorneys
Re: sale of real estate below value
Generally speaking, the personal representative has certain duties to the estate. However, determining if those duties were breached would require much more information about the issues you have described (all of which may have perfectly appropriate explanations).
You should have any attorney experienced in estates and trusts litigation review your facts. Please feel free to call if you would like me to evaluate whether my firm could assist you.
Lawrence R. Holzman, Esquire
Joseph, Greenwald & Laake, P.A.
6404 Ivy Lane, Suite 400
Greenbelt, MD 20770
(301) 220-2200
fax (301) 220-1214
Disclaimer: Please note that the posting of this response is not intended to constitute legal advice. You should contact an attorney to obtain information applicable to your situation. This posting is not confidential or privileged and does not create an attorney/client relationship.
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