When an Ohio resident is named as the executor of an estate, he or she has a number of steps to take in order to close the remaining estate. In some cases, probate administration may include having to sell real estate that the loved one left behind. This type of action can make settling an estate more difficult, especially if the executor does not have real estate knowledge.
Hopefully, the decedent will have created a will indicating what steps should be taken with remaining real estate. If the wish is that the property is sold, the executor will need to handle that task. However, if a will or other estate document addressing a house does not exist, the executor will have to follow state laws regarding the process of parting with a home.
It is also the executor’s job to protect all remaining assets, including real estate. This task may involve putting new locks on the house in order to keep others out. Other parties associated with the estate, such as beneficiaries or heirs, may feel that this step is drastic, but too often, assets are taken before probate is completed, which can cause major complications. Keeping others out of the home until it is sold or otherwise properly addressed during probate could prevent theft and damage.
Probate administration is not an easy process to complete, and having to handle real estate transactions can be even more complicated. Any Ohio executor in this type of scenario will certainly want to make sure that the property is handled correctly. Fortunately, legal professionals can help concerned individuals throughout the proceedings needed to close estates.
