Five Circumstances Where a Personal Representative Can Sell Real Estate
When we pass away, our loved ones are often tasked with the responsibility of administering our estate. This job typically includes the management and distribution of our assets, including real estate. Assets may need to be sold in order to pay the debts or expenses of the estate. In other cases, the estate’s personal representative may be instructed to sell the real estate under a will or a trust. There are many instances where real estate must be transferred or sold. Personal representatives must be careful to follow the proper rules and procedures when selling real estate in California.
Circumstances Where a Personal Representative Can Sell Estate Property
Since the estate administration process is governed by state law, rules, and procedures, personal representatives cannot simply opt to sell real estate without giving due consideration to their responsibilities and duties. The following are five examples of circumstances where a personal representative is permitted to sell real estate in California:
- The sale is necessary to pay debts, devises, a family allowance, expenses of estate administration, or taxes.
- The sale is to the advantage of the estate.
- The sale is in the best interests of the interested parties to the estate.
- The property must be sold according to the terms of the will.
- Authority is given in the will to sell the property.
Unless your loved one has previously sold real estate as part of an estate administration in California, he or she may be unfamiliar with the proper procedure. Our article, “Selling Real Estate During a Riverside Estate Administration: Six Facts,” provides a helpful overview.
Did this article provide you with helpful information relating to the sale of real estate during an estate administration? If so, we encourage you to share it with your friends and family on Facebook!
The Grossman Law Firm, APC · 525 B Street, Suite 1500, San Diego, CA 92101 · (951) 523-8307