I am the administrator of my father's estate. He passed without a will and his only real asset was his home. The home currently does not have any mortgage on it and my sister would like to move in. She would like to take a mortgage in order to 'pay-off' my brother and I. A few questions:
1) Is this acceptable according to PA laws for me to do as administrator?
2) Will there be any problem if we 'sell' the home to my sister below market value?
I understand the estate taxes would most likely be valued according to the fair market value and we would plan on paying these with the money taken from the house in the form of her mortgage. Thanks.