Sale of Trust Property Subject to Right of First Refusal

Trustee not surcharged for sale of property below assessed value because after two years of attempting to sell the property, which was in deteriorating condition, the acceptance of the highest bid at a public auction was reasonable.  The trustee was also not surcharged for failing to give notice to the other beneficiaries of their right of first refusal to purchase the property at the sale price because the lack of notice caused no harm; all of the beneficiaries were already aware of the right of first refusal and the results of the auction, and there was no evidence that any of them wished to exercise the right.  Perry Estate, 6 Fid.Rep.3rd 309 (O.C. Jefferson Co. 7/18/2016).

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