Issues Related to Estates

If you are involved in the sale of a property owned by an Estate, be prepared to answer the following questions and consider the following points.

 

  1. If one of the joint tenants is still alive, check to see if deed is joint with right of survivorship?
  2. Is the Will being probated?
    1. If so, does it contain a power of sale clause?
    2. If so, did you review copy of Letters Testamentary – Who is Personal Representative?

  3. If Will is being probated and does not contain a power of sale clause, you may need probate court approval.
  4. Remember, a non-probated Will has no legal effect.
  5. If non-probated Will, claims survive against estate for 2 years.  May be a title issue.
  6. If no will, all heirs at law must sign.  #5 still applies.
  7. If probated Will, is estate open or closed?