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No. There are legal aspects regarding a sale of real estate by an estate that are not a concern for a general sale of real property.
Any estate that has real property must be probated in order for legal title to pass to the heirs or to the estate representative. The court must appoint an estate representative to carry out the provisions in the Will, if there is one, and to settle the estate according to the laws in the jurisdiction. In most jurisdictions in order to sell the real estate the estate representative must have that authority granted in the Will. If that is not the case then the ER must obtain a license to sell from the court.
Those factors often delay a closing when the seller has not been informed of the legal requirements for selling property by an estate. The lack of authority to sell the premises is often disclosed by the title examination ordered by the buyer's attorney and the sale must be postponed until the estate is probated.
The interested parties should always consult with an attorney who specializes in probate to help guide the probate process.
What else can I help you with?
How does real estate apply in real estate?
If you want to apply for real estate in Juhu, 4 bhk flat for sale in juhu
What is the real estate definition for an estate sale?
An estate sale is a type of sale or auction to dispose of the majority of the materials owned by a person who is deceased or will be moving.
Where can one find Milwaukee homes that are for sale?
You can find Milwaukee homes for sale by contacting the local real estate agent in Milwaukee and telling him or her your requirements. You can also look at private listings.
Purchasing from an estate sale?
Purchasing from an estate sale can be easy. All you have to do is go in and tell them what your budget is and what you are looking for.
What is an estate sale of real estate?
An estate in this sense refers to the real estate owned by a decedent at the time of their death. The purpose of an estate sale is to sell the property of a decedent so the proceeds can be distributed to the heirs. After an owner of real estate has died, their estate must be probated so the real estate can be sold. The sale must be handled by an estate representative duly appointed by the probate court and that representative must have the proper authority to sell the property. An estate sale of real estate would be a sale of the real property owned by the decedent.
Where can I view real estate for sale in Tulsa online?
There are multiple online websites and channels that show real estate for sale. You can also locate realtors in Tulsa and check theire websites for real estate for sale.
What might be the reasons behind an estate sale?
An estate sale can be a way to get rid of a significant part of the property owned by someone who deceased. Moving can also be a reason for an estate sale. Other reasons are divorce and retirement.
How does one find homes for sale in Fresno?
One can find homes for sale in Fresno by checking on the different real estate companies such as the following; Fresno Real Estate and Homes for Sale in trulia, Fresno Real Estate in Zillow, and Fresno Real Estate in Realtor site.
In what section of The Des Moines Register are real estate listings printed?
The Des Moines Register real estate listings are printed in the classified section under real estate. Real estate listings include homes for sale, condos, foreclosures, real estate auctions, land for sale, businesses for sale and other real estate classifieds.
Is land sold need to be reported on taxes from an estate?
Yes someone is supposed to report the sale of the land from the estate and if pay any income taxes that may be due on the sale of the land from the estate. The trustee or administrator of the estate or the beneficiaries of the estate.
Where can one find used estate in sale in Dallas?
Someone can find used estate for sale in Dallas on many various real estate websites, or going to their local, physical real estate office that is close by.
Where can a person view videos of real estate for sale?
Youtube has various videos of real estate for sale, though these seem to be of more expensive homes for sale. Video OpenHouse also has videos where you can view real estate for sale. Real Estate Videos also offers the same service, as well as allowing you to upload your own videos.
