8 Common Real Estate Disputes During Estate Administration
- Estates and Broker’s Commissions
- Selling Real Estate During Probate
- Beneficiary Disputes Over Real Estate
Unfortunately for friends and family faced with the loss of a loved one, the administration of their loved one’s estate is not always easy. There are often times where real estate disputes arise during the probate administration process. These real estate disputes can involve beneficiaries, creditors, omitted heirs, or any other interested party. The sale of the deceased individual’s home is an area that is ripe for potential conflicts.
Examples of Potential Issues That Can Result in Estate Litigation
There are many situations where issues can potentially result in estate litigation. The following are just a few:
- Whether a personal representative had the proper authority to accept an offer to purchase.
- Disputes over the sale price.
- Lack of proper notice of the sale.
- Whether a personal representative obtained proper court confirmation of the sale of real estate.
- Whether the personal representative entered into a binding contract with a licensed real estate broker.
- The amount of commission a broker is entitled to receive.
- Whether the estate is liable for a commission to a listing broker.
- Whether an original bid on an offer for real estate is subject to an overbid.
Unfortunately, issues still arise even if your loved one’s property was held in a trust. Our article lists some common problems that occur when real estate is held or sold during a trust administration.
We hope that this article has helped raise your awareness of the potential pitfalls that can occur during an estate administration involving real estate. If so, we encourage you to share it with your friends and family on Facebook! When beneficiaries and personal representatives are aware of possible problems, they may be better equipped to handle them without costing the estate valuable time and money.