Executor Property Sale Guidelines

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Summary

In West Virginia, the executor can sell estate property without needing all siblings agreement unless the will specifies otherwise. If the property is sold below market value, beneficiaries can sue for breach of fiduciary duty. Breach of fiduciary duty occurs when someone fails to act in anothers best interest, causing harm. Beneficiaries can stop the sale by filing a court petition to remove the executor or a temporary restraining order. Consulting a local attorney is advisable for personalized advice.

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There are * siblings and one is named executor of estate. Do all siblings have to agree on sale price? We’re in WV
In West Virginia, the executor has the power to sell the property. The siblings' agreement isn't mandatory unless specified in the will. However, involving them can avoid disputes. This information is general and may vary based on specific circumstances.
What if the property is sold way below market value
If the executor sells the estate's property below market value, other beneficiaries could potentially sue for breach of fiduciary duty. They must prove that the executor's action negatively impacted the estate's value. This varies based on specific circumstances and West Virginia laws.
What is breach of fiduciary duty?
Breach of fiduciary duty happens when someone has a responsibility to act in the best interest of another person or entity but fails to do so, causing harm. This could include negligence, fraud, or conflict of interest.
Can anything be done to stop the sale?
In West Virginia, beneficiaries can potentially prevent the sale by:
- Filing a court petition to remove the executor for breach of fiduciary duty.
- Filing a temporary restraining order to halt the sale.
Note: This information may vary based on specific circumstances and WV laws.
Thank you
You're welcome, ****! Don't hesitate to reach out if you have any more questions or need further clarification. Remember, consulting a local attorney could provide more personalized advice. Best of luck with your situation!
Will do
That sounds like a wise decision, ****. If you need any further general legal guidance in the future, feel free to reach out to FreeLawChat. Good luck with your situation!