Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

New York County, Surrogate's Court: November 7, 2019

New York County, Surrogate's Court: November 7, 2019

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Surrogate Anderson ESTATE OF BRUCE DAVIS, Deceased (18-2903/H) — In this contested miscellaneous application, the preliminary executor of the estate of Bruce Davis asks the court to lift the restrictions on his preliminary letters testamentary and to give him leave to sell real property. Those restrictions, imposed by decision and order of this court dated October 26, 2018, restrain him from selling decedent’s real property. One of decedent’s sons has opposed the application. The guardian ad litem for the infant distributee has no objection to the relief sought. Decedent’s multi-million-dollar estate consists primarily of a closely held business and a townhouse in Manhattan. Petitioner states that the sale of the townhouse is necessary in order to pay the estate’s significant tax liabilities (estate taxes and decedent’s income taxes), as well as to prevent future accruals of penalty and interest on such taxes. Decedent’s son objects to the application without providing the court any basis to doubt the necessity of the sale. In the alternative, he asks the court to impose limitations on the fiduciary’s use of the sale proceeds (he would have it limited to paying estate taxes only) and to require petitioner to post a bond equal to the appraised value of the property. On this record, the court grants petitioner’s application to the following extent: petitioner’s letters are hereby modified to allow him to market the real property and to enter into a contract of sale. The letters continue to be restricted against collection of the proceeds of sale until further order of the court. This constitutes the decision and order of the court. Dated: November 4, 2019.

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
British Legal Awards 2024
November 27, 2024
London

Celebrating achievement, excellence, and innovation in the legal profession in the UK.


Learn More
GlobeSt. Healthcare Real Estate 2024
December 02, 2024 - December 03, 2024
Scottsdale, AZ

Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare event of the year!


Learn More
ThinkAdvisor LUMINARIES Awards 2024
December 11, 2024
Las Vegas, NV

This event shines a spotlight on how individuals and firms are changing the investment advisory industry where it matters most.


Learn More
Go to Events Go to Webcasts
School Law Associate

We are seeking two attorneys with a minimum of two to three years of experience to join our prominent and thriving education law practice in...


Apply Now ›
Real Estate Litigation Associate - New York, NY

Description: Fox Rothschild has an opening in the New York office for a Real Estate Litigation Associate with three to six years of commerci...


Apply Now ›
Attorney - Insurance Defense

Downtown NY property and casualty defense law firm seeks a Litigation Associate with 3+ years' experience to become a part of our team! You ...


Apply Now ›
Go to Lawjobs