Results 1 to 2 of 2
  1. #1

    Default Real Property Appraisal

    My question involves estate proceedings in the state of Texas.
    Is there a minimum selling price of a real property in a Dependent Administration and who is entitled to define it ?
    The question is extremely important in my case where the Tax Authority Appraisal is far bellow the actual market price.

    Thank you in advance

  2. #2
    Join Date
    Oct 2014
    Posts
    8,238

    Default Re: Real Property Appraisal

    The executor/administrator has a fiduciary obligation to maximize the estate, so he or she should sell it for the highest price they can get for it. Selling it significantly below market would expose the executor to claims of breach of his/her fiduciary duty and might result in the executor having to repay the difference to the estate. Real property tax appraisals are in many places unreliable indicators of true market price and thus not very meaningful here.

    1. Sponsored Links
       

Similar Threads

  1. Purchase Contracts: Can You Sell Real Property As-Is
    By lawfacts in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 12-29-2016, 09:44 AM
  2. Business Management: How to be a Member of a LLC and Manage Its Real Property
    By lasica in forum Business Law
    Replies: 10
    Last Post: 03-20-2014, 11:29 AM
  3. Foreclosure: UP Railroad Criminal Trespasses My Real Property and Destroys Personal Property
    By gataheart in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 11-15-2010, 04:52 AM
  4. Foreclosure: Walking Away from Real Property
    By shrlook in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 06-30-2009, 05:08 PM
  5. When exactly is one the owner of real property?
    By GoBears in forum Buying, Selling and Conveying Real Estate
    Replies: 3
    Last Post: 01-28-2007, 01:30 PM
 
 
Sponsored Links

Legal Help, Information and Resources