My parents have passed away and now we are now in the process of selling their property.
I think I may have asked this before, but... the property is listed in my parents' LTD partnership.

Is there going to be any issue selling the property that way? We have asked my dad's lawyer and his banker (VP of trusts) and both of them basically said... "It shouldn't be an issue". I know, I know, time to get a new lawyer!

One property is listed in my parents' name and the empty lot next door is in the LTD name. SMH!

Did you parents have wills? Did they die at the same time? Who is handling the estate/probate?

You might want to check the partnership agreement. Death of the only partners usually dissolves a partnership and then the agreement would have liquidation procedures to follow. So, the Limited partnership may not currently own the property.

My mother passed a year before my father. My sister, brother and I are also partners in the LTD partnership.
Yes there is a will also and we set up an Estate account for my dad after he passed. The 3 of us are also co-executors of the will.

I think my dad's lawyer isn't the brightest but we started with him since he had at least a little history handling things for my dad... though this lawyer wasn't involved in the partnership setup back in the day.

Looks like we have a buyer wanting to buy the house and the lot next door, so wondering what we need to do to move forward with the sale... house under my mom & dad's name, the empty lot in the LTD name.

Will be reaching back out to the lawyer to see what he has to offer.

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The 3 of us are also co-executors of the will.

I think my dad's lawyer isn't the brightest

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I'd say not.

I'd be super honest with the buyer. It is definitely a very solvable problem, but it might take a little time and headache.

Ol Jock 99 said:

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Quote:

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The 3 of us are also co-executors of the will.

I think my dad's lawyer isn't the brightest

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I'd say not.

I'd be super honest with the buyer. It is definitely a very solvable problem, but it might take a little time and headache.

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Yep, that lawyer ought to be shot.