How Long Does An Executor Have To Sell House?

Losing a loved one is tough, and the last thing on your mind might be the nitty-gritty of handling their property, like selling their home.

If you’re the executor of the estate, you might be thinking, “Where do I even start?” especially when it comes to navigating the maze of selling a home during probate.

So, what’s probate?

It’s a legal step that needs to be checked off before you can sell the house.

Depending on the details of the estate and if anyone challenges the will, this can take a short few months or stretch over a year.

But here’s a silver lining: having a seasoned real estate agent by your side can make a world of difference.

They’ll guide you through the rules you might not be familiar with and be there for you as you work through your emotions.

Selling a home after someone’s passed away isn’t just about property; it’s personal.

And with the right help, you can make it through.

How Long Does an Executor Have to Sell a House?

Stepping into the shoes of an executor? One of your tasks might be selling the home of the person who’s passed away. But how long do you have? Well, it’s not as straightforward as marking a date on the calendar.

First off, you’ll want to wrap up the home sale before the probate process concludes. Probate itself can be a quick two-month affair or stretch out over a year.

What might change the timeline?

• Any disagreements or challenges to the will?
• The specific probate rules of the state where the person lived
• The house’s location, especially if it’s not in the same state as their main home, like a vacation spot or an investment property

It’s a smart move to get cozy with the estate and probate laws of the state in question. Since these rules can differ from one state to another, knowing the ins and outs for your specific situation can help you sail through the home-selling journey.

And here’s a tip: while handling the property, you’ll likely use funds from the estate (not out of your pocket) to cover things like bills, mortgage payments, or property taxes.

Remember, your main job as an executor is to keep the property in tip-top shape while probate is ongoing.

In a nutshell?

There’s no universal “due date” for selling a house as an executor. It’s a mix of estate details, local laws, and the property’s specifics.

Below are links to state-specific laws so you can review how executors are legally allowed to handle the sale of a house in probate:

   

Understanding the Role of an Executor

Ever heard the term “executor” and wondered what it means?

An executor, sometimes called a personal representative, is the person given the green light to handle the estate of someone who’s passed away.

Think of it as managing all the stuff left behind – from homes and cars to jewelry, furniture, and those cherished family keepsakes.

If you’re named as the executor in someone’s will, that document becomes your roadmap.

It’ll tell you how to divvy up the estate, whether that means passing items to family members or selling things off and donating the cash to a good cause.

But what if there’s no will? That’s when things get a bit trickier.

You’ll be diving into the world of “intestate succession.”

Fancy term, right?

“Intestate” just means the person didn’t leave a will.

So, intestate succession is all about following the state’s playbook on who gets what.

As the executor, your main job is to play by the rules, making sure you’re looking out for both the wishes of the person who’s passed and the interests of those set to inherit.

Probate Explained

Now, let’s chat about probate.

It’s the official process that kicks in after someone dies, ensuring their assets find their way to the right people – be it family, friends, charities, or other groups.

But not everything goes through this process.

Some assets, like jointly-owned properties or life insurance, skip the probate line and go straight to the folks named to receive them.

As the executor, you’re the captain of the probate ship.

You’ll be steering the estate, making sure everything goes where it’s supposed to, based on the will or those state rules we talked about earlier.

And since probate can be a maze of legal twists and turns, it’s a smart idea to have a seasoned attorney in your corner.

They’ll help you tackle everything from straightforward estates to the ones that throw you a curveball or two.

When Is It Okay for an Executor to Sell the House?

Once a house is legally under the executor’s care, they’re in the clear to sell it.

But, there’s a catch.

Even if the will names you as the executor, you can’t just jump into action.

The house isn’t a Monopoly piece you can move around the board. First, the will needs a stamp of approval from the probate court.

Only after the court hands over the “letters of authority” can you think about selling.

Being an executor is a bit like being a guardian. You’re looking out for the estate’s assets during the probate process.

And here’s a tip: don’t let the house gather dust after the owner’s passing.

An empty house can become a magnet for all sorts of troubles, from break-ins to leaky roofs or even burst pipes.

Once the court gives you the go-ahead and you wear the executor badge, it’s game on for the probate process, and you can set the stage to sell the house.

First things first, ring up the homeowner’s insurance company, and do it sooner rather than later.

Some policies might leave you hanging if a vacant house faces issues. You might need to tweak the policy to cover such scenarios.

Also, it’s essential to know who’s in line to inherit the house.

Let’s say you’re dealing with a house in Alabama, and the will points to three beneficiaries.

All three need to be singing from the same hymn sheet before you can put the house on the market.

No will? No problem. Just lean on the state’s rules to figure out who the rightful heirs are before making any moves.

Is It a Must for an Executor to Sell the House?

Not at all. As an executor, you’ve got choices.

Heck, you could even consider buying the property yourself. But always remember, the property isn’t your personal playground.

You’ve got to play by the state’s rules. Plus, you’ve got a responsibility to handle the assets with care, always being transparent and fair.

And a heads up: beneficiaries have a say. If they’re not on board with selling, you might hit a roadblock.

So, always ensure you’re in sync with them, follow the probate playbook, and keep everyone’s best interests at heart.

Frequently Asked Questions

How long does an executor have to sell a house after probate?

The clock starts ticking for an executor once probate begins. They should aim to sell the house before probate wraps up. How long is that? It can be as short as two months or stretch out to a year. It really depends on things like the state of the estate, any disagreements about the will, and the rules of the state they’re in.

Do beneficiaries need to okay the sale of estate property by an executor?

While an executor might sometimes sell estate property without a green light from each beneficiary, it’s wise for them to stay in touch with everyone involved. Keeping everyone in the loop not only builds trust but also helps avoid any unexpected hiccups or misunderstandings down the road.

Can an executor buy estate property for themselves?

Absolutely, an executor can consider buying property from the estate. However, they need to tread carefully. It’s essential for them to ensure they’re paying a fair market price and being transparent every step of the way. After all, it’s all about maintaining trust and integrity in their role.

What can be done if an executor refuses to sell a house?

When an executor seems stuck on not selling a house and doesn’t have a solid reason, beneficiaries have the option to approach the probate court. They can request the court to swap out the current executor for a new one. However, it’s always best to try and find common ground and sort things out amicably before heading to court. After all, settling matters outside the courtroom is often less stressful and more straightforward.

Is it possible for an executor to sell a property without going through probate?

Yes, there are certain situations where an executor can bypass the probate process to sell a property. For example, if the person who passed away had a joint ownership setup, like joint tenancy or tenants by the entirety, the property ownership naturally shifts to the other owner. But in most other cases, selling a property will typically involve going through the probate steps.