what is a license to sell ? who can petion for it?
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what is a license to sell ? who can petion for it?
Asked on May 27, 2009 under Estate Planning, Massachusetts
Answers:
L.M., Member, California Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
In the absence of a provision in the will, a so-called “license to sell” is necessary for property liquidation. This is a probate process where the purchase and sale agreement, after acceptance, is presented to the Probate Court for approval. If the property is sold pursuant to a duly approved license to sell, the property is sold free of all liens and attachments so that the buyer is sure that he or she is able to obtain clear and marketable title.
A will may and should state that no license to sell is required, in which case this process need not be followed, although it is common for real estate lawyers to require that a license to sell be obtained even if the will dispenses with this requirement.
An attorney representing the heirs may apply for it on their behalf, or the heirs may apply themselves.
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