When Can an Executor Sell Inherited Property?

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Real Estate Agent with Waterfront Homes, Oceanside Condos,Investment Properties, Probate, REO. Covering Broward County 3149072

In many cases the success of a sale depends on the closing occurring in a timely fashion. It is important that the executor or personal representative have the authority to sell the real estate or personal property as early as possible. This article addresses when the executor can execute the deed and sell the property. An executor can sell inherited property as soon as certain requirements are met.

If the will contains a power of sale, the executor or personal representative is authorized to sell the property upon being appointed by the county probate court. If a decedent dies intestate (without a will), or executes a will with no power of sale, an executor or personal representative may sell real property only with the authorization or confirmation by the court. No marketable title passes until the sale is authorized or confirmed by the court.

In any case the proceeds of the sale cannot be distributed to the beneficiaries until after all the decedents debts have been paid ( at least three months after the opening of the estate).

Other posts of interest

The 10 Most Common Duties of An Estate Executor

 

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Topic:
Home Selling
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Florida Broward County
Tags:
legal
probate
selling real estate

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Rainer
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James Vasquez
James Vasquez, REALTOR | Real Estate Agent - San Antonio, TX

Hey Tom, no doubt that the success of a sale of any home depends on the timely closing of the transaction...and often when owners are considering their selling options once they've inherited a house, they naturally want to get under contract with a buyer to sell it.  This creates a problem for the inexperienced agent/buyer if they don't first do their own due dilligence as to the status of the process or the Authority of the seller.

Nov 13, 2015 01:35 AM #1
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Rainmaker
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Tom Day

RE/MAX in Motion Pompano Beach & Greater Ft Lauder
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