If my mother passed away owning a home, does the house have to be sold before the estate can be closed?
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If my mother passed away owning a home, does the house have to be sold before the estate can be closed?
The estate must be closed within 2 years of PR appointment. What if it does not sell?
Asked on January 19, 2015 under Estate Planning, Minnesota
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
Are you trying to sell it? Well, you can go back and ask for an extension. You can try lowering the amount and working with the lender to obtain a short sale if the home is subject to a mortgage loan. These are the best options available to you. If the home can be rented out, then the fiduciary responsibility is met to not lay waste to the estate for any potential beneficiaries. You can have this be a new motion in court.
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