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    emiler1's Avatar
    emiler1 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 22, 2012, 03:03 PM
    Is it a felony for an executor to buy the property they have put up for auction?
    We have an executor who put a piece of property in the estate up for absolute auction and then bought it herself at half of the appraised value. Is this legal?
    smoothy's Avatar
    smoothy Posts: 25,490, Reputation: 2853
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    #2

    Mar 22, 2012, 03:08 PM
    Who held the auction... did she do it or was it via an outside auction house that handled it?

    Also, what state? What country. Laws are not universal. It helps to know the location.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #3

    Mar 22, 2012, 03:47 PM
    Quote Originally Posted by emiler1 View Post
    Is this legal?
    Hello e:

    No. Sue her for your share.

    excon
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Mar 22, 2012, 04:01 PM
    Was what the executor paid equal to or higher than the top bid from the auction? Was the auction conducted legally under the auspices of the probate court?

    There is nothing illegal in what the executor did as long as it was done above board. If the auction was legally done and the property did not receive high enough bids, then the executor may have been within his rights. We need more info.
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