If a will orders the sale of real estate and the distribution of sale proceeds to beneficiaries, does the personal representative retain control of the real estate until it's sold or should the property deed be re-titled until the real estate is sold?
Estate Planning Attorney
If the will specifically orders the sale of the real estate then the personal representative should retain control of the real estate until it is sold. No deed need be done until the property is sold. Appropriate insurance for the property should be obtained.
Very truly yours,
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Real Estate Attorney
The personal representative retains control until the sale is completed. They maintain a fiduciary obligation to maintain the property and effectively realize the maximum value of the property. Upon realization/sale, the proceeds will then be distributed to the beneficiaries. As the will orders the sale by the fiduciary, there should be no intervening deed to the beneficiaries as it is the executors obligation to liquidate.