How Long Does an Executor have to Sell a House

How Long Does an Executor have to Sell a House

While you may not think about such a situation, it is important to have some knowledge in the event that a loved one passes away and you become an executor responsible in selling their home. In order to determine how long does an executor have to sell a house, here is a guide on the process.

What You Need to Know As An Executor

For starters, you will need to locate a will-if there is one. If there is a Will that names you as the Executor, you will need to file those documents with the court. This can take six to eight weeks before you have official authority. Once those documents are fully filed this is called your Letter of Administration with (or without) a Will/Probate is what gives the Executor legal authority to sign documents required for the sale of the property.

At this point you could reach out to your real estate agent and let them know the timelines for closing the sale of the home. Its very important to have the Will probated before the sale of the closing. If the Will is not probated the title of the property cannot be transferred on that date.

During the several weeks that it takes for you to have the Will probated, you should locate the deceased’s property tax information for both the real estate agent and the real estate lawyer. If, as an Executor, you cannot locate one, the lawyer can request a tax certificate from the city to provide this information.

Selling a House as an Executor

In cases that the property is a condo, you will need to determine how much the deceased was paying for common expenses to the building corporation and if there are any amounts owing. This, as well as information related to any special assessments made against the unit will need to be passed along to the lawyer.

If it’s a house or condo you will need to find out if there are any rental items and pass that along to the lawyer. It may take some digging, but you will need to find out if the HVAC or other systems are rented.

In a perfect scenario, the Executor will be awarded Letters of Administration (Probate) before the closing date –but that unfortunately is not always the case. If you do not receive the Letters of Administration before closing, here are two options. The first option is that the buyer and seller (the estate) can amend the closing date until after the Letters of Administration is received. The Second option is to enter into an escrow closing agreement if both sides agree. This means that the buyers can move in without being the legal owners until the Letters of Administration is received. Then when the Letters of Administration are received, the Executor can legally transfer the title.

If you would like more information when selling a home while you are an Executor, please feel free to visit my website where I have helpful area dedicated specially to Executors. Also please feel free to contact me directly. I can direct you to a lawyer with expertise in this field.