Executor's Decision
A client of mine has an opportunity to purchase a property that is held by an executor for 315k. The comps come in around 350. The executor happens to be my clients mother in law. Is it true that the executor has the final say as to who to sell the property to, or does she have to entertain offers higher than 315k? Any help would be greatly appreciated. :-?
I am not an attorney so I would defer to them on points of law. However, an executor/executrix does act as a fiduciary, and it would seem to me that the executor must consider the deal that is best for the estate. That may or may not be the one with the highest price, depending on terms and conditions and "quality" of buyer involved.