Can an executor sell a house before probate is granted?
Can an executor sell a house before probate is granted?
Whether the executor of an estate has to sell a house in probate depends on the state in which the property is located. The executor may be able to sell a house in probate to a friend or family member, or he may have to hire a real estate agent to help sell the property.
If the executor of an estate is able to sell a house in probate, it may be to raise money for debts or taxes. Depending on the circumstances, the executor may be able to negotiate a payoff from a creditor. If the debt is more than the value of the property, the executor may be able to sell the property to pay off the debt. However, if the debt is less than the value of the property, the executor is likely to find it difficult to sell the property.
The executor of an estate is usually a fiduciary, which means that he or she must act in the best interests of the estate. This is important because the executor has the power to sell property if the will permits it. However, the executor must act in the best interest of the estate or risk being held liable.
Generally speaking, an executor can sell a house in probate for only a fraction of its real value. This is because the executor has to follow specific procedures. In addition, the executor is only allowed to take on a limited number of major tasks. The executor also must pay for repairs to the property. There are other expenses related to the property that are not included in the sale.
If you have any questions or in need an Probate Attorney, we have the Best Attorneys in Utah. Please call this law firm for free consultation.
Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676-5506
