QUESTION
Can a property be sold before an estate is settled?
Asked on Jun 11th, 2016 on Estate Litigation - Pennsylvania
More details to this question:
Here's the issue... We have a property in which two parties (father and daughter) were listed as tenants in common. One of those parties passed away (the father), with no will, and his portion of the estate transfers in equal to his four children. The estate has not been settled yet. So we're left with the daughter #1 controlling 5/8ths of the property (her original half plus 1/4 of the father's portion) and the other children each controlling 1/8th. I have a signed POA from each of children, granting me control of their property in order to sell the home. Is there any reason I would have to wait until the estate is settled for selling as long as the value of the home is covered in the estate / estate taxes are paid? Thanks, Chris
1 ANSWER
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Has an estate been opened in probate for your father? Is there a personal representative? You won't be able to sell the property without your sister's cooperation since she owns 1/2 of the property in her own name (separate from any interest derived from your father's estate). Short of that, you'll have to file a partition action to force the sale of the property. yes, a property can be sold prior to the conclusion of the administration of an estate. That's how it typically happens. But you have a property here that's only owned 1/2 of the Estate. That's more complicated.
Answered on Jun 22nd, 2016 at 6:37 AM