Re: Credit Cards / Collection Companies
it is the duty of the exec to liquidate the estate and pay off the obligations of the estate as best as the finances of the estate allows. There are a couple things you need to be careful with with buying the house yourself:
you do not buy it for less than market value. If you did, that would mean that you essentially took assets from the estate that should have been used elsewhere.
are there any other heirs to the estate? While the exec does get to make decisions for the estate, if you benefited from the position unjustly, it would give the other heirs a reason to contest the dispersal of the estate funds.
From what you have said, you are actually looking at paying over current market value so I doubt there would be a problem with the transaction.
Now, not trying to confuse things but you could even propose a short sale to the bank. That can get quite involved and the complications could be great. If you consider such an action, you really need to have a lawyer beside you to help you through it without causing yourself a lot of problems and maybe even losing the house altogether.
I am not an attorney and any advice is not to be construed as legal advice. You might even want to ignore my advice. Actually, there are plenty of real attorneys that you might want to ignore as well.