Do I have to sell Land if I am the Executor and Beneficiary of an Estate if the estate is insolvent? Can I keep the Land?

Asked by jeanierice1971, Charlotte, NC Thu Jan 10, 2013

I am the executor and the beneficiary on an estate. This is going through Probate. It looks like it will be insolvent. There is a small plot of land worth $3200 and I would like to keep it. I'm being told it needs to be transferred/sold to a "family member"? Why does this have to be done if I am executor and the only benificiary? Plus how would it work if I wanted to keep it and not sell it? Can I just pay the $3200 to go to whoever it needs to go too?

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Curly Sue, , Texas
Fri Apr 26, 2013
If you're the only beneficiary why are there family members in the mix?
If you're the only beneficiary who would you be paying? Isn't everything yours if your the beneficiary?
0 votes
Ron Thomas, Agent, Fresno, CA
Fri Apr 26, 2013
I'm sure you just cannot "keep" it; it doesn't belong to you.
For any advice, you must contact an Attorney.
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