Asked in Estate Planning for New Jersey

Q: Hi, Can an executor lower the selling price on the decedent's house without first discussing with the beneficiary heirs?

My impression is the executor is supposed to do all possible to preserve the estate value. Decreasing the house price by 20% does not seem to be in line with this.

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2 Lawyer Answers
H. Scott Aalsberg Esq.
H. Scott Aalsberg Esq.
Answered
  • East Brunswick, NJ
  • Licensed in New Jersey

A: The answer depends on many issues and the main factor would be was the original price within the price range of other houses which are similar and that are for sale in the area. If you need more information I suggest you setup a consultation with an experienced lawyer.

Jonathan Herron
Jonathan Herron
Answered
  • Estate Planning Lawyer
  • Marlton, NJ
  • Licensed in New Jersey

A: It would depend on the reason the executor had for lowering the price. To provide an accurate response to your question would require much more information. If you are concerned about whether the executor is acting properly you should consult with an attorney.

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