My question involves property situated in Texas, which was devised by a Texas will to interested parties residing in Missouri and Illinois.
The testator died a few years ago. The testator created a life estate in a piece of property in his son. His two grandsons are remaindermen. The property has no buildings, no real income value. The taxes on the property, however are somewhat significant. None live near the property.
The will does not provide who is to pay the taxes on the property, and all 3 have been paying the taxes (and other costs) equally. The will provides: "(son) may not sell or take a loan out on the property without written permission of (grandsons)".
It is the desire of the life tenant (son) and 2 remaindermen (grandsons) to sell the property and split the proceeds three ways between them. Is this something that can be done? Are they going to need to get an attorney in TX to assist them in drafting an instrument to allow for this?