Regarding an estate sale of a house, are the proceeds from the sale considered assets?
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Regarding an estate sale of a house, are the proceeds from the sale considered assets?
Asked on May 20, 2013 under Estate Planning, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
I am so sorry for your loss. Yes, the proceeds from the sale of a house in an estate are considered to be an asset of the estate as well. Many times an executor will sell a house to add cash in to an estate to pay debt. That is an acceptable practice under most circumstances. Good luck.
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