[ExecHeir]

My parents both died in 2010, Harris Cnty, Texas, with the last in December. The uncontested wills have been probated, I'm the executor, and there are 3 heirs. There are some real-estate property holdings: 4 apartments, 4 vacant lots, and the former homestead. There is over $350,000 in debts and the rent barely covers loan notes and regular monthly bills much less the additional insurance, taxes, fees and maintenance. I have an offer for the 4 vacant lots and as executor I want to sale the land and put the money in the bank used by the estate to support the estate. It will be used to pay off estate expenses of a $20,000 loan, other misc. debts of over $20,000, do some maintenance on the homestead, and leave some operating capital in the estate for things like taxes and insurance. My brother does not want to sale, because of some personal financial reasons. He feels the money from the sale of the property would be considered inheritance and his portion would get lost into issues with his creditors. I have no plans of disbursing any moneys to the heirs at this time but only using the money to support the estate. It may be years before we dispose of the other properties.

Does my brother have a true issue or can I sale the 4 lots from the estate and role back into the estate without creating an inheritance?

[Fr_Chuck]

All debts need to be paid before any money is paid out of the estate, if for example the actual value of the buildings is less than the mortgage, cash on hand may need to be used to pay for loss when property is sold.

So you need to figure all debts, values of property to see if there is even a positive value to the estate.