My mom and dad left me a house and 18 acres of land in Kentucky. The will leaves me the real property after all debts have been paid. My brother is the executor. The estate owes Medicaid $47,000 for my mother's stay in a nursing home. My brother had the land and house appraised at $125,000 ($4500 per acre, plus the house). He offered to pay me the $125,000 ($47,000+/- to Medicaid and the balance, $77,000+/- to me. That was a year ago. He recently sent me papers to sign which included a warranty deed that would transfer ownership of the property to he and his wife for $1.00. There was a note attached to the deed that said they would pay the Medicaid and pay me the balance of $77,000 no later than Jan. 15. In questioning him about the details, I found out that he has a contract to sell 6 of the acres of land to someone and closing is scheduled for December 20. He has a contract to sell the 6 acres for $75,000. His explanation is that he will use the money to pay me and he has a secured a personal loan to pay off the Medicaid. Is this a reasonable and logical way to proceed with this? It would appear at this time, that the property is still owned by the estate. I want to keep harmony in the family but I am looking for the best suggestion on how to proceed with this transaction.

I don't like this at all. There is no need to transfer the property to him and his wife. Does the estate have any other assets that can be used to pay the Medicare bill? And if the appraisal says the land is worth $4500 per acre then how is he selling 6 acres for $75,000? It is my professional opinion that he is ripping you off. Get a lawyer. Don't sign a thing until you've spoken with a lawyer.

I agree that the appraisal is probably way too low, for starters, and may not have even been done by a certified appraiser. Sounds more like cahoots with a real estate agent.

I'll add my voice to not sign anything.

The difference between a warranty deed and a quit claim deed is that the warranty deed warrants clear title. It is immaterial to your situation.

If the estate owns the property, then the executor can sell the property either in whole or in part, without you transferring the property. In fact, if the property is still in the name of the deceased or the estate, then a deed signed by you is invalid unless the property is first placed in your name.

The $47K comes out of the WHOLE estate, not just the property. The only way it should be paid from the sale of the property is if the property is the only asset of the estate.

If there is a contract to sell 6 acres for $75K. Then you should get $28K of that AND a deed to the remaining 12 acres (assuming the property is the only asset). The property belongs to you according to the will. I am curious as to why the property was left to you yet he was appointed executor. That would make sense only if there was more to the estate.

Again, the property was bequeathed to you. You are entitled to either a deed to that property or the proceeds of the sale of that property. If your brother wanted to buy the property for the appraised value at the time of the appraisal, he could have done that if you accepted. But a year later, you want a new appraisal or you want the property deeded to you and you will sell it.