How to Sell a Dead Relative's House Frequently Asked Questions

Whether an executor has the authority to sell the decedent's house depends on several different factors. In general, an executor does have the legal authority to sell estate assets. However, there are limitations on the executor's power and special concerns that the executor must consider when determining how to sell a dead relative's house.

While executors do have broad discretion to manage estate assets, including selling real estate, there are limitations. Moreover, the actions of the executor are overseen by the court. The executor most report all transactions to the court and in some cases get prior court approval.

• The executor must sell a house if the will directs him to do so.
• The executor may find it necessary to sell a house if funds are needed to pay estate bills.
• The executor can only sell the estate's interest in a house.
• The executor can only sell real estate that is part of the probate estate.
• The executor can only sell estate real estate if it is in the best interest of the estate.

As a New York estate administration lawyer will explain, if the executor sells the house the proceeds will go to the estate. Depending on the reasons for selling the house, the executor may use the funds to pay estate debts, or may be required to turn over the funds to one or more of the beneficiaries. For example, if the terms of the will stated that the house was to ho to the decedent's two sisters, but the executor is sell the house and give the proceeds to the sisters, than that is what the executor must do. When managing estate assets, the executor must always do what the testator would have wanted based on the information that the testator put in her will, and what is in the best interests of the estate.

If the executor decides to sell a house that is part of the estate of a relative, the executor must make sure the transaction is in the best interest of the estate. In fact, it may be necessary for the executor to seek approval of the Surrogate's Court judge. If you are interested in purchasing a house that is part of a loved one's estate, first discuss the matter with a New York probate administration lawyer who has experienced with issues related to probate real estate. Because there may be complexities associated with buying property that is in probate, an option is to wait until probate ends and purchase it from the beneficiary who received it.