I am 1/3 beneficiary of an estate in NJ. The real property contains two industrial buildings and one residential building, all fully rented and producing a substantial profit. The only creditor to the estate is the executrix herself who loaned money to the deceased. In 4 years since the deceased died, she has only taken partial payment of her debt from the rental proceeds, but still can. The town is favorable to subdividing the residential and industrial portions from each other. The appraisal (now 4 years old) concluded the residential portion is valued at $283K (32%), and the industrial portion at $602K (68%). I have requested to receive the residential property as my 1/3, but the executrix refuses, claiming the property must be sold to satisfy the debt and ensure equitable distribution.
Divorce / Separation Lawyer
Consult with and retain a probate lawyer in NJ, not NY, to negotiate a deal.
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Criminal Defense Attorney
Repost in the New Jersey Avvo section.
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Real Estate Attorney
What happens in NJ stays in NJ. Note, however, that yours and the executors' opinion may vary as to what's in the "best interests" of the beneficiaries. Presumably, if the executor doesn't act in bad faith, there's little you can do.
I may be guessing or not licensed in your state. No atty/client relationship exists.
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