Estate Sales
Your the Executor of an estate and must sell the family home. Selling a standard home can be hard enough, but this will certainly complicate the matter. Follow these six steps and settlement will be a breeze.
- Communicate with the title company. Make sure you call the title company as soon as a title company is chosen. They need to know an Estate is selling the property and if you don’t tell them, no one will.
- Contact the Register of Wills office and get an original death certificate. It is illegal to photocopy a death certificate, so the title company must keep an original death certificate in their file.
- If the property was owned by a married couple. You will need original death certificates for both owners even if the other death happened years ago.
- The title company will also need a copy of the will and the letters of testamentary/administration.
- You will also have to provide proof that state Inheritance taxes and federal Estate taxes, if applicable, have been paid. If those tax returns will not be submitted until after the sale, a letter of indemnity from the estate attorney may be acceptable. Call the title company immediately to discuss the matter.
- Finally, get all these documents to the title company a far ahead of settlement as possible. Do not expect to show up at closing and give them a stack of papers to read and analyze.
Credits:
Cheryl Hartzman
CLT
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