Effective Property Liquidation Services
During the course of administering an estate, it usually will be necessary to sell property, especially if a sale is directed in the will, or if the assets are needed to satisfy bequests and/or pay taxes and/or expenses.
How Probate Impacts Property Sales
In the absence of a provision in the will, a so-called “license to sell” is necessary for property liquidation. This is a probate process where the purchase and sale agreement, after acceptance, is presented to the probate court for approval.
If the property is sold pursuant to a duly approved license to sell, the property is sold free of all liens and attachments so that the buyer is sure that he or she is able to obtain clear and marketable title.
A will may and should state that no license to sell is required, in which case this process need not be followed, although it is common for real estate lawyers to require that a license to sell be obtained even if the will dispenses with this requirement.
Work With Cushing & Dolan, P.C.
The elder law attorneys at the Elder Law Centers in Boston, Massachusetts, can assist you with property liquidation matters.