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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10527
Experience:  Barrister 17 years experience
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Can an executor purchasing the property pay one bill at end

Resolved Question:

Can an executor purchasing the property pay one bill at end of estate completion consisting of his payment of cost of property minus his share of estate? Or does he have to put in the whole cost of the property first, before estate is apportioned?
Submitted: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year ago.
1. Dear *****e, in strict point of law, an executor must contribute the cost of the asset s/he is purchasing from the estate before apportionment, as this is both the logical order of estate management and also because, it is a principle of law,t hat an executor cannot profit from their position as executor. HOWEVER, if the executor agrees it with the beneficiaries of the estate, there can be agreement that the executor contribute their monies at the end, when apportionment is occurring. HOwever, in strict point of law, this is not the correct approach.
Expert:  Buachaill replied 1 year ago.
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