Legal Question in Wills and Trusts in Maryland

In the state of Maryland can the executor of the will sell things to whom ever they want and for what ever amount they want to sell it for?

Asked on 3/12/19, 6:47 am

1 Answer from Attorneys

Cedulie Laumann Arden Law Firm, LLC

The Personal Representative ("PR") is normally vested with power to sell / liquidate estate assets in the ordinary course of administration in any reasonable manner the PR chooses. Sometimes the Will sets constraints or gives certain people rights to purchase.

While the heirs normally do not have a say in setting the sale amount or terms, naturally the PR should act within reasonable limits and consistent with their fiduciary obligations. A PR may decide to auction property or sell "as is" to a cash investor even if they might theoretically get more money by fixing up and listing through the MLS. However, the PR authority is not unlimited. For example, it would be an abuse of discretion and breach fiduciary duties to sell a property worth a million dollars to a friend for $75,000.

When in doubt the PR can seek court approval.

Personal Representatives are encouraged to seek legal advice for questions about administering an estate. While I hope the general information above helps, it is not intended as legal advice.

Read more
Answered on 3/12/19, 10:47 am

Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Maryland