How long does the successor trustee have after the person dies to list the property for sale?
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How long does the successor trustee have after the person dies to list the property for sale?
How long does the successor
trustee have after the person dies
to list the property for sale?
Asked on March 23, 2018 under Estate Planning, California
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
There is no hard-and-fast or set-in-stone time frame for this; the trustee's obligation is only to act in a "reasonable" fashion. What is reasonable depends entirely on the facts and context: a down market may justify holding the property, until the market improves; necessary repairs or rennovations so the property will sell faster and/or for more may justify holding it; if there are any liens or claims against it which must be cleared up, that would justify delaying any sale; etc.
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