Regarding an estate sale of a house, are the proceeds from the sale considered assets?

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Regarding an estate sale of a house, are the proceeds from the sale considered assets?

Asked on May 20, 2013 under Estate Planning, California

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I am so sorry for your loss. Yes, the proceeds from the sale of a house in an estate are considered to be an asset of the estate as well.  Many times an executor will sell a house to add cash in to an estate to pay debt.  That is an acceptable practice under most circumstances.  Good luck.


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