Legal Question in Wills and Trusts in Tennessee
My uncle passed away and left money to family memebers. The executor of the will said they can not disperse the funds until a piece of land he owned has been purchased. I am interested in buying the land but I wanted to know where does the money I pay for the propety go ?
1 Answer from Attorneys
If your uncle owned the land in question at his death, and was the sole owner, then all net funds (excluding any costs related to the sale - listing fees, closing costs, etc.) collected at the sale of this land would be paid into his estate, and would be subject to distribution according to the terms of his last will and testament. However, this assumes that your uncle didn't leave this particular piece of property to a specific person or persons - if he did, then this would be considered a specific bequest and the property or funds after sale would belong to the person/s named in the specific bequest.