How soon Can I List with an Estate? (Ontario)

By
Commercial Real Estate Agent with RE/MAX West Realty Inc., Brokerage (Toronto)

How soon Can I List with an Estate?

Question:

The Owner just passed away. How soon can I list the property for sale?

Answer:

If there is a Will, then the Estate Trustee has authority to act including listing the property for sale from the moment of death.

If there is no Will, then you will have to wait until someone is appointed by the Court as the Estate Trustee. This could take several months. It’s not quick.

It should be noted that until there is a Court Order confirming the appointment in the case of an Estate Trustee with a Will, the conveyancing documents cannot be signed. This means that you could list the property, sign an Agreement of Purchase and Sale, however, you would have t wait for the Court Order before closing.

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Rainmaker
1,156,424
FN LN
Toronto, ON

Of course, if the position of Estate Trustee(s) is in dispute for whatever reason (perhaps multiple versions of a will existing or the validity of the will is in dispute but the agent is not aware of this), there could be interesting complications if the property is sold but the validity of the will or the determination of the Estate Trustee(s) drags on for a significant amount of time.

Jan 01, 2017 06:51 PM #1
Rainmaker
1,369,655
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

yes, thge response is "technical" only. There could in fact be several Wills, and who knows which one is correct.

 

Jan 02, 2017 08:13 AM #2
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Rainmaker
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Brian Madigan

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