Full question:
My parents have both passed away. I am Successor-Trustee for their Rev Living Trust. They owned a family farm which has not been distributed as of yet. Can I sell a small piece of acreage to satisfy a debt? What if this piece of land is earmarked for a certain heir if still within the Trust at time of settlement--can I still sell it? This piece of ground is not connected to the original family farm at all. I have two people wanting to build a home on it. It is the easiest piece of land to sell and it would satisfy all creditors.
- Category: Wills and Estates
- Subcategory: Probate
- Date:
- State: Kansas
Answer:
The ability to sell a piece of land from a trust depends on the trust's terms and whether the estate has gone through probate. If the property is owned by a trust, the trustee's authority to sell is governed by the trust document. Generally, the court may permit the sale of real estate to pay debts or if it's determined that selling is in the estate's best interest.
In Kansas, the executor or administrator can sell real estate if necessary for paying debts, funeral expenses, or other costs (K.S.A. 59-1410). If the land is specifically designated for a certain heir in the trust, selling it could be more complicated, especially if it is still part of the trust at the time of settlement.
It's important to ensure that any sale complies with the trust's terms and state laws. Consulting with a legal professional is advisable to navigate these issues effectively.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
