Legal Question in Wills and Trusts in Pennsylvania
sale of deceaded home
Can the executor of the will, place the the home of the deceased up for ''sale by owner'' in order to settle the estate?
1 Answer from Attorneys
Re: sale of deceaded home
The executor is bound by the provisions of the will. Unless the home is specifically given to a named person in the will, the executor may sell the house to create liquid assets in the estate. If no realtor is involved in selling the house, yes, it would be a "For Sale By Owner", because the executor has the power to offer the house for sale and to convey it. "FSBO" usually refers to transactions that do not involve realtors, but you are right to question if an executor has the power to offer the house for sale. The executor does have a fiduciary obligation to the beneficiaries under the will to obtain the best possible price for the house.