View Full Version : Purchases from an estate
Judy3
May 1, 2007, 11:06 AM
I am the administrator for my brother's estate. This will be an insolvent estate. He has a vehicle that ~$8500 is owed to the lender. I would like to purchase this vehicle for myself. How do I do this so that it will not become property of the estate when it is paid for? Thanks!
ScottGem
May 1, 2007, 11:09 AM
You determine the blue book value of the car. You then pay the estate the value and have the estate issue you a bill of sale.
Judy3
May 1, 2007, 11:21 AM
Do I write a personal check to the checking account of the estate and then pay the vehicle off with a check from the estate account?
ScottGem
May 1, 2007, 11:23 AM
That's the way I would do it.