Legal Question in Wills and Trusts in Connecticut
If real estate is in probate, may the executor sell the property via seller financing, and how would that work?
1 Answer from Attorneys
Yes, but it would be very complicated. First, you would have to get the probate judge to agree to it. This is unlikely, because the estate would not be able to be closed until all funds are dispersed. So, you wouldn't be able to close out the estate until all of the payments have been received via seller financing. Second, any other heirs could object to the sale, on the grounds that it would unnecessarily delay the closing of the estate.
On the other hands, there are lots of other ways to handle creative real estate purchases / sales, depending on what you are trying to accomplish. Please let me know if you would like to discuss further. I offer a free initial consultation for new clients.
Best of luck!
Attorney Diana L. Bartolotta