The question of how long does an executor have to sell a house is always in someone’s mind when they are recently inheriting a house.
A house can be inherited to someone else,
mostly to families when the original owner has died.
The one inheriting the house is known as executor in the eye of the law.
Here’s what to understand more about it.
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How Long Does an Executor Have to Sell a House According to the Law?
Having your name written in the will and named as the one inheriting the house is never easy.
You have to deal with the emotions of losing a relative but you have to get to the house selling or house ownership business in no time at all.
The needed information that you have to understand about this matter is written below.
Time Limit to Sell a House
How long do you have to start selling the house?
Technically, there is no limit of time to do that.
However, an executor is usually starting selling the house six to eight weeks after the will is issued by the deceased’s lawyer.
Steps to Take as an Executor
You are now an executor and what should you do?
If you really do not want to keep the house, you need to list the house for sale.
Of course, there are steps to take and here are the steps to follow.
Get the Will/Letter of Testamentary (Probate)
The most important thing is that you have the will.
The will is like the only thing proving you as the legal owner of the house.
If the will is nowhere to be found,
you need to obtain a letter of testamentary,
known as probate,
to state that the house is technically yours.
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List the House for Sale
As the house is now technically yours, you can start selling the house by listing the house for sale.
You can do this on newspaper, real estate sites and many more.
You can also sell the house directly to someone close or families.
Make a Deal
If there are people interested in the house and willing to pay, you can make deals with them.
Once the deal is set, you can move on the legal steps.
It is including contacting lawyers and making the paperwork.
Close the Sale
Close the sale by contacting your lawyers and real estate agents who probably help you selling the house.
Finish the payment and sign off the needed documents to transfer the ownership of the house from you to the buyer.
Now it is clear that you can sell the house if you do not want to keep it.
You have basically unlimited time to do that, but it is always better to close the sale as soon as possible.
Read the information up there to make sure you know exactly what to do and no longer wondering about how long does an executor have to sell a house.