An executor or administrator in real estate manages the deceased person’s property. Sometimes, that management Involves property sales. However, how can these executors sell the properties belonging to the descendant’s estate?
Unless the person is an executor or administrator, cannot sell or transfer any of that person’s property. People will find themselves in legal trouble for violation of the rules. If you are the personal representative, the procedure for property selling depends partially on the circumstances and the property type.
What is the will to give property for selling?
If the deceased person authorises personal representatives to sell real or personal property, the personal representative does not seek court approval before the sale process. Ohio Probate law, specifically ORC 2113 39, states that the personal representative can sell properties for different reasons without limitation as long as its taste is in the estate’s best interest. If the will places limitations on the power of sale, it will remain in effect.
Suppose the will has no authorisation over the personal representative to sell properties. In that case, they still can do for by getting the probate court’s permission for the country where the will is being probated. Without a will, an estate administrator can sell the estate’s personal property with probate court permission.
Selling Real Estate During Probate
The personal representative of the property can sell during probate if certain conditions are not met, even when specific permission was not granted in the will of the deceased person. Some of those conditions include-
- The surviving spouse and other persons named as devices in the will must consent in written form to the sale of the specific parcel or all of the estate’s real property.
- The consent to the power of sale must be filed in the probate court.
- Any sale must be of at least 80% of the property’s appraised value as outlined in the approved inventory of estate assets.
- If any heir or devisee is a minor, they cannot consent to the power of sale, nor can anyone consent.
Therefore, if the decedent’s surviving spouse is the real estate executor, they can sell the property to anyone under Ohio law. If the deceased owned real estate in their name, then it is helpful for an executor to have the guidance of an Ohio probate attorney to take them through the process by obtaining or filing necessary consents for the sale approval. Click here https://www.h3homebuyers.com/selling-a-house-in-probate-ohio/ for details.