My mom passed away and there is a lean on her estate. She owns property in AZ that I have been offered cash for... can I sell it? I am the executor or her estate.
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My mom passed away and there is a lean on her estate. She owns property in AZ that I have been offered cash for... can I sell it? I am the executor or her estate.
You must satisfy the lien first.
Are you going to give the money from the sale to the person with the lien.
You can sell it the same as she could, but the lien holder must get paid if this is the same property. Legal possession cannot transfer until it does. Anything else would be illegal, and you would be liable. Consult an attorney.
Does the cash buyer know of the lien? You have a responsibility to tell him.
Here is a very informative article.
http://www.bigstatehomebuyers.com/ca...m-home-buyers/
There are unscrupulous sellers who would figure out how to take his cash and saddle him with the lien.
There are unscrupulous buyers who do nothing but look for death notices and scam the heirs out of properties. They are the ones who already know there is a lien!
Don't do this without a RE lawyer!
(I'm looking for a small AZ home...)
Is the lien against the estate or against specific property? This is important. Will the sale of the property satisfy the lien (not lean)? You certainly can sell the property. However, if the lien is against the estate as a whole, then the proceeds of the sale needs to be applied to creditors of the estate first.
If you don't know how lien is spelled, you really need legal help in administering the estate.
The short answer is Yes. You can sell the property. But in doing so it should pass through escrow and in escrow and liens against the property wll be paid out until all funds are exhausted. If there are left over funds then you would stand to collect those monies.
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