Q: My uncle passed away without a will with minor beneficiaries. The executor of estate wants to buy property whats process

A: If I am understanding your scenario, the executor of the estate intends to purchase real property owned by the estate, and the cash from that sale will then replace the real property in the estate for purposes of distribution to the heirs. There are conflict of interest issues here since the executor of the estate owes a fiduciary duty to maximize the value of the estate for the heirs. When the heirs are not adults, the scrutiny of this type of deal is even more intense, as minor children lack the capacity to agree or consent to such a sale as being in their best financial interest. Whoever is the legal guardian of the minor children would have to be consulted, and if that person is also the executor (or his wife) then the conflict is not lessened, but made worse. That does not mean that the executor cannot purchase the property. What it means is that the executor should obain an independent good faith appraisal of the property by a certified real estate appraiser (not simply a realtor doing a market comparison--the realtor would have to be certified by the State of Maryland as an appraiser). Then, for the executor's own protection, and especially with minor heirs involved, the executor should petition the probate court for approval of the sale, ideally with the legal guardian of the minor heirs' consent. You do not say, but if the uncle is the minor heirs' legal guardian, and is purchasing the property so as to maintain the children in the home while they grow up, that may by a positve factor in favor of the transaction, so long as the price is fair. Ordinarily, the safest means to ensure maximization of the property value for the estate is to list the property and accept bids in the open market, and sell to the highest bidder. That might be the executor. The executor cannot get away with buying the property below market and get a "good deal" at the expense of the minor heirs. One important point: there may need to be two appraisals: (1) date of death appraisal (value of the property on the day the decedent passed away, which is required for the probate estate to fix the tax basis in the property for capital gains tax purposes); and a current appraisal for the time of sale, in case the value appreciated significantly since the date of death. That will depend on the length of time the property has been held by the estate before its sale.

A: The short answer to your question is "Yes, it is possible for the Personal Representative (Executor) to buy property from the estate.

So long as it is for fair market value (as your post suggests), the process is fairly straight-forward and involves deeding out of the estate. It is highly recommended to have legal assistance with this, my firm handles Personal Representative deeds in Maryland, as do other firms throughout the state.

While not legal advice, I hope that this general information helps!