New York | Wills and Trusts
11/19/11, 6:58 pm
Legal Question
I am the executor of my mothers will. Part of her estate includes a condo, which I would like to purchase. Since I am the executor, can I purchase the condo, at fair market value (the value based on comparable sales, from a reputable realtor), without notifing the other heir (which we are not on speaking terms). I am told that if I sell to a stranger, at fair market value, I do not have to notify the other heir but if I want to purchase the condo I do have to notify the other heir. Which is the correct answer?
Thank you
Share This On:
