If an executor allowed property to go into foreclosure, can he be removed?
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If an executor allowed property to go into foreclosure, can he be removed?
Executor liquidated stock and bank accounts, sold personal property of decedent, collecting over 60K. No mortgage obligations on several properties were met. Now these properties are in foreclosure due to default that occur ed after death of decedent. Can executor be removed? Can he be criminally charged with embezzlement or theft by conversion?
Asked on June 18, 2012 under Estate Planning, Illinois
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
It sounds a sif the executor "breached his fiduciary duty" and that would be grounds for removal. If he posted a bond you may be able torecover some money. If not then your state law probably allows you to go after him in a civil suit. As for the criminal charges, you would need to speak with the local prosecutor about same. Good luck.
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