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    Judy3's Avatar
    Judy3 Posts: 3, Reputation: 1
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    #1

    May 1, 2007, 11:06 AM
    Purchases from an estate
    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    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's Avatar
    Judy3 Posts: 3, Reputation: 1
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    #3

    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #4

    May 1, 2007, 11:23 AM
    That's the way I would do it.
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