If you?ve been named as an executor of an estate, there will likely come a time when you will ask the question, Can the executor of an estate sell property? While the simple answer is yes, these situations are far more complicated and require more than a simple yes or no answer. And, there are two ways an executor can sell property; you can sell through probate or without going through probate, depending on the particulars of your situation.
Probate is usually necessary when someone dies without making specific plans for the property. The executor must then be granted authority through probate court to legally act in the best interest of the estate.
The executor?s power to liquidate an estate and sell property comes from two sources ? the will of the deceased individual and state law. However, being an executor is never as simple as just selling a home.
There are many other responsibilities that an executor is charged with, including:
- Paying all outstanding debts (utility bills, mortgages payments, etc.)
- Paying all required taxes.
- Securing all property such as personal belongings, real estate, finances, automobiles, collectibles, jewelry, etc.
- Communicating with beneficiaries and the court throughout the process.
Help is always available
This is just a very rough guideline, and things can get more or less complicated due to a number of factors such as living trusts, jointly held real estate and the wishes of the beneficiaries named in the will. Our best advice to you is to consult with an experienced Realtor and a real estate attorney for guidance as it pertains to your current situation.
Remember that no two situations are ever the same, and the laws that govern executors and estate vary from state to state. Please contact The Olear Team for additional advice and assistance.
Can the executor of an estate sell property?
If you still have questions or have to sell a house for someone else as?executor or power of attorney or would like more information on how we can help, complete the form below and we?ll contact you at a convenient time for you.