If the decedent specifically bequeaths or devises an asset, or leaves a piece of real estate by will, the executor or administrator can’t sell it unless it’s necessary to pay the decedent’s debts or estate expenses.
If the decedent had no will, the probate court must grant a license to sell real estate.
The purchaser or the title insurance company, who the purchaser pays to guarantee that the property title is clear, may also require probate court approval for the sale to proceed.
A license to sell from a probate court or other evidence of court approval assures that the title is clear of debts and any claims of the estate and heirs.
Choose a broker who has comparable properties to back up the price he or she proposes for your property.
The executor must be able to give clear title, ensuring that the property was owned by the decedent and has no liens upon it, to any real estate being liquidated.
The decedent’s will may require an executor to obtain probate court approval prior to any sale.
If the power to sell isn’t stated in the will, you must get approval of the probate court for the sale of real estate held in the decedent’s name.
Liquidating — distributing or selling — estate assets is one of the primary responsibilities of an estate administrator.
Liquidation can help to pay the estate’s debts and expenses and make distributing the remaining assets easier.