Alabama Sample Letter regarding Motion to Sell Property of an Estate
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How to fill out Sample Letter Regarding Motion To Sell Property Of An Estate?
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FAQ
Can I Sell an Inherited House in Alabama? Yes, you can sell your inherited house in Alabama. Your property must undergo a probate process before you sell it.
Can I Sell an Inherited House in Alabama? Yes, you can sell your inherited house in Alabama. Your property must undergo a probate process before you sell it.
After the executor is appointed by the probate court, the executor is charged with managing the estate. The executor must determine what assets are in the estate and secure the estate assets for the benefit of the heirs and potential creditors. If the estate owes debts, the executor must negotiate with the creditors.
An heir can sell their interest in heirs property. Do all heirs have to agree for heirs property to be sold? Under certain circumstances, such as a forced sale through a partition action or a tax sale, the property can be sold without all heirs agreeing.
A final settlement can be made six months from the date of the grant of Letters Testamentary or Letters of Administration.
Sale of real property. Real property can be sold by the executor (without provision to do so in the will) or administrator for the purpose of paying debts when the personalty is insufficient, §§ 43-2-441, 43-2-442, 43-2-844, or where it cannot otherwise be equitably divided, § 43-2-443.
Alabama personal representatives must make annual settlements of their administration. A final settlement can be made six months from the date of the grant of Letters Testamentary or Letters of Administration. If the estate is closed in less than one year, the final settlement is the only settlement.
Once debt and bills are paid and the remaining assets are distributed, the executor will submit receipts and records of everything to the court. At that time, the executor will ask the court to close the estate and release the individual from the role of executor.
