Massachusetts Petition for Sale of Real Estate by Personal Representative is a legal document used when a person appointed as a personal representative of an estate wishes to sell real estate owned by the estate. The petition must be filed in the Probate and Family Court, and the court will review the petition and determine whether the sale of the real estate is in the best interest of the estate. The petition must include information such as the name of the deceased, the name and address of the personal representative, the address of the real estate, a description of the property, an estimated value of the property, and the reason for the sale. The two types of Massachusetts Petition for Sale of Real Estate by Personal Representative are an Order for Sale and a Petition for Sale. An Order for Sale is typically used by the court if the personal representative is an individual. A Petition for Sale is typically used when the personal representative is an institution such as a bank or trust.
Massachusetts Petition for Sale of Real Estate by Personal Representative
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FAQ
While the probate is open and Personal Representative (PR) is administering the estate, the PR can divest their title either by exercising a power of sale in the admitted will or by selling the property pursuant to a License to Sell of Real Estate (a/k/a Decree of Sale) in a formal or informal probate.
A qualified person with legal priority has the right to be appointed as personal representative of the estate over anyone else. If the decedent died with a will ? The person with legal priority is the person named in the will to serve as personal representative or executor.
A personal representative is the person appointed by the Probate Court to administer your estate after you pass. This role is often known as an executor. This appointment is critical to finalizing your estate and managing your assets in the meantime.
Massachusetts does not have what's known as an Affidavit procedure for small estates, but they do have a summary probate procedure. An estate value must be less than $25,000 and have no real property to qualify.
This personal representative can be appointed in as little as seven days after a loved one's death, compared to the six weeks to five months it used to take to appoint an executor or administrator.
Can You Sell a House During Probate in Massachusetts? The short answer is yes. Under the Massachusetts Uniform Probate Code, a house can be sold during probate as long as the seller can pass on a clean title to the buyer.
By Massachusetts statute, a probate case must be kept open for twelve months to allow creditors to file any claims against the estate and before final distributions should be made to the heirs. The good news is that not all estates must go through probate.