Ohio 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
(B) An executor, administrator, or administrator with the will annexed may commence an action in the probate court, on the executor or administrator's own motion, to sell any part or all of the decedent's real property, even though the real property is not required to be sold to pay debts or legacies.
How long is the Ohio probate process? Most probate cases can be completed in around nine months. Because creditors have six months to file a claim, the process will at least take that long. More complicated estates or cases in which someone is contesting the will can take over a year to resolve.
The more complicated an estate is the more likely you are to benefit from professional legal guidance during the probate. An estate with a lot of property, a business and or many high-value items will require some legal assistance due to the sheer number of assets and legalities involved.
Ohio law allows for certain small estates to be handled in less time, and with less paperwork. If an estate is eligible, one may submit an Application to Relieve from Administration or a Summary Release from Administration to settle an estate.
Most straightforward probate cases can be wrapped up within about nine months after the executor or administrator is appointed. Creditors have six months to file a claim, so probate must last at least that long. If the estate owes state or federal estate tax, it's likely to take a year or more.
After the debt has been paid, the executor or administrator of the estate will ask the probate court for permission to close probate and allow him or her to distribute the remaining assets to the estate's beneficiaries.
There is a duty of competency, a duty of disclosure, a duty of loyalty, and a duty of impartiality. These duties are intended to defend the interests of the heirs of the Decedent's estate, the estate creditors, and the taxing authorities.
If the decedent did not have a will (or the will did not specifically say the Executor has the power to sell real estate), then the real property may only be sold 1) if all beneficiaries or heirs consent, or 2) though a court-supervised ?land sale? proceeding.
