Executor selling house to family member below market value.

Can an executor sell the deceased persons house to anyone he chooses and at any price or must it go to auction. It looks as if the spouse of a family member who is also the executor is trying to sell the house at a lower price than market value to one of his family members.

The executor can do this, butthe Revenue will consider that the transaction as at market value and will consider the discount as a gift - which may be taxable.

Also, the other beneficiaries of the will may be able to contest the transaction and apply to the courts for redress.

Executor has an obligation to obtain the best possible price for th house.