If real property is not sold within 18 months of openingprobate, does the property have to be transferred to the executor(s)?
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If real property is not sold within 18 months of openingprobate, does the property have to be transferred to the executor(s)?
The beneficiaries of my parents estate are being told by the executor that if their home is not sold within 18 months of opening of the estate that it has to be transferred into one of their names.
Asked on September 12, 2011 under Estate Planning, Maryland
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Whether or not the real property which is an asset of the estate that is being probated is required to be transferred into the names of the executors if it does not sell within eighteen (18) months of the filing of the probate depends upon what is specifically stated in the terms of the will being probated.
If the will does not state that title to the real property is to be placed in the names of the executors at any time, I see no legal basis by it is to be placed into their names unless the will states that the named executors are to receive this property as heirs under the will if it does not sell within the eighteen (18) month period post opening of the probate.
I suggest that you read the will, consult with the exectuors for the will and the attorney retained to do the probate.
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