Does an executor have the authority to sell real estate?

Yes, an executor in Virginia does have the authority to sell real estate. According to Virginia probate law, an executor is allowed to, with court approval, sell or encumber any real estate belonging to the estate. This means that the executor can sell real estate of the deceased or take out a loan secured by the real estate. When an executor has the authority to sell the property, it must be done in a reasonable manner that is in the best interest of the estate and the beneficiaries. Before the sale of any real estate in Virginia, the executor must apply for the court’s permission through the process of obtaining a “license to sell”. This license allows the executor to legally sell the real estate, usually on behalf of the estate. The executor will need to provide the court with documentation related to the sale, such as an appraisal of the property and a sale agreement. This will prove to the court that the executor is acting in the best interest of the estate, and that the sale is fair and reasonable. Once the court grants permission, the executor may then proceed with the sale of the real estate. The executor will need to follow specific guidelines throughout the sale process, being sure to follow all relevant laws and regulations. After the sale of the property is complete, the executor will report back to the court. All proceeds from the sale must go to the estate and the beneficiaries.

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Does an executor have the authority to sell real estate?

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